Property for sale in Nebraska
The Nebraska real estate market continued to gain energy in 2018. In the last year, property for sale prices in Nebraska have risen at their fastest pace since 1994, as the state's economy began to strengthen.
Properties for sale prices in Nebraska have accelerated over the past two years and have continued to rise in the second quarter. During the first quarter of 2018, prices in Nebraska were 26% higher than at the beginning of the recession.
The stability of the Nebraska real estate market during the recession has partly contributed to this strength.
In addition, house prices have increased throughout the state. In recent years, prices are great, but the increases in Omaha and Lincoln have also been remarkable. In Lincoln, house prices have increased at an average rate of 8.4% over the last four quarters, even exceeding the growth rates of the 1990s.
Over the past five years, average house prices in Nebraska have increased by over 30% for high, medium and low-priced homes.
A very limited offer of wide and constant prices.
Increases in construction costs also contributed to higher prices for properties for sale in Nebraska.
With investment restrictions in Nebraska and with prices rising faster than rents, home ownership has declined. In the first quarter of 2018, the ownership rate in Nebraska was about 5 percentage points lower than in 2009.
Lincoln's real estate market in Nebraska is a shining example of the benefits of slow growth. Lincoln's real estate market may be a model to follow for other US cities.
The current average house price for Lincoln is less than the national average. While Lincoln's real estate market is lower than the national average, it appreciated at an annual rate of 11.4%, compared to the national average of 6.7%.
The fact that Lincoln's real estate market was at par or, in some cases, exceeded the national average speaks of the strength of the market.
There are many reasons why Lincoln real estate is so attractive to buy or invest in property for sale in Nebraska. The increase in market demand may be the most attractive aspect for Lincoln real estate investments. This begins with the attractiveness of an area in which to work. Few cities can boast better numbers. As a result, Lincoln's real estate investments for property for sale in Nebraska should benefit.
Another positive sign concerns the amount of new construction stocks on the market. In the last twelve months there have been 902 new building permits on the market. Over the past three years, Lincoln far exceeds the national average for new housing permits.
Lincoln continues to be a promoter of the real estate market. All markets go through periods of small correction. The best markets use this as a catalyst for continued growth. With solid fundamentals and periods of sustained growth, Lincoln's real estate market seems to be in the right direction.
The real estate market in Omaha is very different in 2018 compared to a few years ago. The value of the house in Omaha has increased by 8.0% in the last year and is expected to turn down by -0.7% within the next year.
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