According to a Pittsburgh Post-Gazette article, Pittsburgh's housing market is currently outside the national trend. Though home listings have dropped across the nation in the past five years, Pittsburgh has seen a slight increase. Because Pittsburgh is outside the nation's norm, prospective buyers have an easier time finding a home in Pittsburgh.
The chief economist for Trulia, Ralph McLaughlin, was quoted saying that he thought Pittsburgh might be faring better than other metropolitan areas due to its large number of vacant homes. McLaughlin also said that the large number of vacant homes in Pittsburgh "means that there is a slack in the market," and that there is "a cushion for when demand increases."
The vice president of the Realtor's Association of Metropolitan Pittsburgh, John Petrack, noted that housing inventories tend to differ markedly within the greater Pittsburgh area and can change rapidly. In areas where the number of homes on the market are low, it becomes a seller's market.
To see the interactive graphs depicting the national market trend versus Pittsburgh's and find out more information, take a look at the Post-Gazette's article.
The vice president of the Realtor's Association of Metropolitan Pittsburgh, John Petrack, noted that housing inventories tend to differ markedly within the greater Pittsburgh area and can change rapidly. In areas where the number of homes on the market are low, it becomes a seller's market.
To see the interactive graphs depicting the national market trend versus Pittsburgh's and find out more information, take a look at the Post-Gazette's article.
