We’re not simply talking about a trickle type growth in the Grand Rapids, MI, real estate market. Try national — at least that’s what Trulia states, a national real estate research firm, crunching the numbers in preparation for analysis of the 2016 housing market, and here’s the major scoop: Grand Rapids, MI, currently sits at the top of the list!
Why Is Grand Rapids, MI, Real Estate Getting so Much Positive Growth?
In all fairness, know this: it’s a cutthroat and somewhat difficult market with the low income, still sluggish job economy, and difficult conditions overall. But given the circumstances, the numbers don’t lie — western Michigan, specifically Grand Rapids, is looking quite promising as the economy continues to grow with that one secret weapon we’re tending to see nationwide: younger professionals. They’re the new home buyer of the century in this national market, and it apparently seems that a lot of them are looking at Grand Rapids, MI, as a hub for ideal properties.
Here are the top reasons why Grand Rapids, MI, real estate is making major waves in the industry:
- Those Younger Professionals Are Called Millennials — You already know that this is the home buyer. But just how prominent are they in Grand Rapids, MI, real estate? Find out right here.
- More Jobs Are Coming Around — It’s gradual, but it’s getting there, and it contributes to the real estate market in a big way. Find out just how much it contributes.
- Housing Affordability — There’s at least one good reason why home prices aren’t climbing much at all in Grand Rapids, MI. Here’s the reason.
- Inbound Vs. Outbound Housing Searches — In other words, more people not from Grand Rapids are looking for houses in Grand Rapids. But by how much?
- The Vacancy Rate — This is a rate that will blow your mind, and it definitely plays a role on how healthy the real estate market is for Grand Rapids, MI.
We Have a Lot to Look Up to in Grand Rapids, MI
And it’s not a quick move, by any means. In fact, it’s better that this be gradual growth versus instant sprout, or else the economy might backfire, and we don’t want that. The fact is this: Grand Rapids, MI, doesn’t rank at the very top for each of these five reasons. But when you put it all together, that makes for a healthy prediction of a growing real estate economy.