The real estate industry was shattered by the recession that gripped the US in the mid-2000s. The Columbia real estate industry hit rock bottom in 2011 as the economy stagnated. However, in the past few years, it made a tremendous recovery. Today, the Columbia real estate industry is booming, with record-setting demand for homes.
This demand for homes continues to drive property values up. Despite the fact the average property value in Columbia is still below the national average, the rising values make the Columbia real estate industry ripe with opportunity. And with home flipping TV programs like “Flipping Boston” and “Flip or Flop” becoming more popular, the Columbia real estate industry is now the go-to place for property investors and home flippers.
During the first six months of 2019, home values in Columbia continued to grow. Even with this increase, home values in Columbia remain slightly below the national average. This incredible affordability makes this housing market highly attractive to potential buyers. Experts believe that property values will continue to increase as demand continues to grow. Savvy investors know that the Columbia real estate industry shows no indicators that it will slow down any time soon – and they will use this to their benefit.
The Columbia and general South Carolina area remain very popular among home buyers. Columbia is home to a thriving job market, which draws in professionals from around the country. Low-interest rates combined with high demand has created somewhat of a shortage in the housing supply. A local real Dependable Homebuyers estate expert, Evan Roberts, says that home buyers and investors should expect these trends to continue throughout the year. Traditionally, home buying drops off in the winter months, Roberts says. But current trends show strong signs of growth throughout the seasons.
The low cost of living that Columbia provides isn’t the only thing that attracts new residents to the city. The thriving Columbia job market also draws in many new residents seeking attractive job opportunities. Columbia is also home to many different tourist attractions that draw in countless visitors each year. Whether they’re in town to visit Congaree National park or South Carolina State Museum, Columbia’s tourist population plays a crucial role in the housing market. Interested homeowners can read a recent press release they published at https://docs.google.com/document/d/189IolCg8XrX7OTmomkWku1SYzB4CO0sPog87izMcGXw/preview.
This is especially true as more and more homeowners convert their properties to short-term rentals. These homebuyers are capitalizing on the investment opportunity that tourists bring to Columbia. Roberts says that these properties have “left a lack of inventory for owner-occupants.” As tourists continue to pour into Columbia, the demand for housing will only continue to grow.
It is not uncommon for some properties to sell within a few hours of being on the market. This indicator of market demand is undeniable. That’s why the Columbia real estate industry is the perfect place for investors looking for real estate with high ROI. Experts warn that the housing demand can outstrip the dwindling supply of properties. To maintain affordability, Columbia needs an infusion of investors to help bolster the supply of homes for its growing population. More of Dependable Homebuyers services can be found here.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in the Baltimore-Washington metropolitan area. We buy houses in any condition and any situation. Want to sell your house fast? Give us a call at (443) 219-8331 for a cash offer within 24 hours.
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