“Red-Hot” Real Estate Market: Key Reasons to Purchase a Property in Philadelphia Now.
“[It’s] the hottest market I’ve ever seen . . . [according to] any metric you want to bring to bear. The market is between red-hot and white-hot.” – Kevin Gillen, Senior Research Fellow, Drexel University’s Lindy Institute for Urban Innovation
The Philadelphia market is on fire and the following are 3 reasons you should invest right now:
1. Population Growth. Over the past decade, Philadelphia’s population has grown by 5.1%, with Montgomery County increasing 7% and Chester County expanding 7%. Philly is the 6th most populous city in the nation, and demand for real estate is only increasing.
2. Historic Rates. 30-Year Fixed Mortgage Rates, one of the most popular, are at 3.06% (2.65% is the all-time low). On a $200,000 mortgage you’d pay just $849/month, not including taxes and fees.
3. Strong Economy According to the Fed, Philadelphia’s GDP has increased by $100B+ (30%+) in the past decade. Thirteen Fortune 500 companies reside in the region, including AmerisourceBergen, Comcast, and DuPont.
Ultimately, the choice to buy is yours, and I’m here to help. Whether you’re a first-time buyer, motivated seller, seasoned investor, ambitious agent, or anywhere in between, I look forward to working together!
– Leron Grossman, Real Estate Broker & Investment Expert
VictoryRealEstateLLC.com | Office: 215-709-0909