Looking good Pittsburgh! The numbers for the third quarter of home sales are in and the city of Pittsburgh led the way in deals closed.
According to the latest report generated by West Penn Multi-List, Inc, Pittsburgh homes sold faster in this year’s third quarter than property for sale during the same time period last year. Approximately eight percent more residences were purchased by consumers and the average sale price for such listings increased by nearly two percent.
Progress was so good that even the president of West Penn Multi-List, Ron Croushore, had to comment on the success. “We never increase like a lot of other markets in the sunbelt, in Florida, in California, in different places where they go peak real high,” said Croushore to media. He further explained that the sudden increases came as complete shocks to him and other professionals in Pittsburgh’s real estate market. “We never have that,” said the executive. “We’re pretty steady.”
So what does all of this mean for renters? Plain and simple, now is as good a time to consider investing in real property. “But I can’t afford it. I’m too young,” you say. The truth is that you cannot afford not to consider home ownership in this day and age.
U.S. News & World Report gives several reasons why owning real property in your 20’s and 30’s is the better way to go. In fact Riccardo Ravasini of Rava Realty even describes the process as “one of the smartest financial decisions” an individual can make before celebrating his thirtieth birthday. Even those over the age of thirty can benefit from home ownership as Ravasini points out the benefit of real property being “inflation-protected and a physical asset that doesn’t disappear like stocks can.”
The numbers have spoken. Now is the perfect time to seize the moment and buy a home in Pittsburgh.