Main Line-Area Realtors® at Sage Realty Announce a Rise in Homeownership and People Relocating to Philadelphia
October 23, 2017 – Philadelphia, PA – Homeownership numbers for the second quarter of 2017 have been announced, and they indicate that home ownership is definitely on the rise across the nation. According to the U.S. Census Bureau’s report on Residential Vacancies and Homeownership for Q2 2017, the home ownership rate increased .1% quarter to quarter, and from 62.9 % to 63.7% year over year.
Local Main Line Realtors® at Sage Realty have also noted a rise in interest in relocating to Philadelphia. The Philadelphia area population, according the latest census information, has increased 2.7% from 2010 to 2016, which is no surprise as Philadelphia has recently found itself in the US News and World Reports’ Top 100 Places to Retire in the USA. First quarter homeownership rates for the Philadelphia area rose from 65.5% in 2016 to 67.5% in 2017.
Combined, this data suggests the housing market is taking on momentum. The Fannie Mae Home Purchase Sentiment Index increased 2.1 in June, to 88.3. Overall, the American public is once again feeling positive about home ownership and buyers feel confident in their ability to secure financing.
Sage Realty has seen the results of this confidence in their work providing home-buying and home-selling services in the Main Line Philadelphia area. Over the past few years an increasing number of people have been relocating to Philadelphia, shown in the increases in both home ownership and home rental rates. The most recent census data indicates that from 2009 to 2013, nearly 46,000 people have relocated to the Philadelphia area from other metro areas, with almost 27,000 coming from NY-Newark-Jersey City metro areas. With Philadelphia supposedly in the running for the new Amazon headquarters, expectations are high for huge numbers of workers seeking to relocate to Philadelphia.
About Sage Realty, LLC
Sage Realty has provided quality real estate services to the Main Line Philadelphia area for many years and has comprehensive knowledge of the area and the local real estate market. Sage Realty’s agents have helped many homebuyers who were relocating to Philadelphia and those who were simply seeking their next home. The team focuses entirely on achieving the best outcomes for Sage clients, without any conflicts of interest, and has earned a reputation for solid reliability, trustworthiness and results.
For more information or press inquiries, contact 610-687-4000 or visit https://www.findahomeinpa.com/.