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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
Investing in real estate? Some points to consider (Ocean City) - The appreciation of real estate over time has long made owning a home or an investment property a sound financial strategy. Prospective home buyers spend considerable time looking for a property they’re hoping to call home. Various factors, including property taxes and the reputation of local schools, may be considered as homeowners decide where to look for a new home. That vetting process is equally important, albeit slightly different, when buyers are considering investing in properties they don’t intend to live in. Real estate can be a great way to
diversify an investment portfolio and earn extra income. Before shopping for an investment property, novice investors may want to consider certain factors to determine if real estate is the best investment vehicle for them. • Rental potential and the local labor force — Location is a significant factor to consider when investing in real estate, but recent shifts in how and where people work could change the real estate investment landscape. A 2020 Gartner Inc., survey of more than 300 financial executives and leaders in the finance industry found that roughly 25 perContinued on page 21
EARLY-JUNE 2022
Sales of existing homes slows Continued from page 14 at Dave Perry-Miller Real Estate in Dallas. “As the nation’s largest real estate association, we are urging policymakers to enact zoning reforms, homebuilder incentives, and other necessary regulations to help correct this situation.” Regional Breakdown Existing-home sales in the Northeast rose 1.5 percent in April, reaching an annual rate of 670,000, a 10.7 percent drop from April 2021. The median price in the Northeast was $412,100, up 8.1 percent from one year ago. Existing-home sales in the Midwest grew 3.1 percent from the prior month to an annual rate of 1,310,000 in April, a 1.5 percent slide from April 2021. The median price in the Midwest was $282,000, an 8.7 percent
increase from one year ago. Existing-home sales in the South fell 4.6 percent in April, posting an annual rate of 2,490,000, which represents a decrease of 5.7 percent from one year ago. The median price in the South was $352,100, a 22.2 percent climb from one year prior. For the eighth consecutive month, the South recorded the highest pace of price appreciation in comparison to the other three regions. Additionally, the South is the only region to report year-overyear double-digit price gains. Existing-home sales in the West dipped 5.8 percent compared to the previous month, registering an annual rate of 1,140,000 in April, down 8.1 percent from one year ago. The median price in the West was $523,000, up 4.3 percent from April 2021.
Homes with ‘green’ features prove popular Continued from page 12 – 77 percent – said that properties with rooftop solar panels were available in their market. These numbers were highest in the West (89 percent) and Northeast (86 percent). Thirty-six percent said that homes with solar panels increased the perceived prop-
erty value, compared to 30 percent that said they had no effect. The report also noted rising anxiety among Realtors about the effect of climate change and extreme weather events on their businesses. More than one out of three respondents – 34 percent – said they were very or some-
what concerned about the impact of extreme weather events on the housing market. Jessica Lautz, NAR vice president of demographics and behavioral insights, said that the increased focus on sustainability in recent years is a win-win for all homeowners.
“More sustainable homes bring benefits to homeowners like cost savings from energy efficiency, health benefits from improved indoor air quality, and increased comfort and durability from material use and construction, and may also increase resale value,” Lautz said.
