Ankeny Real Estate Market Trends

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There is no question that Ankeny has been created and nurtured to be a location residents are proud to call home. This was achieved with careful planning, and the progress to develop an even better community is continuous. This city offers residents a number of different opportunities to live a fulfilling life with residential areas being safe, clean, and family-oriented. There are also a large number of top-rated schools in the area.

The real estate market is continuing to grow in this city that over 44,000 residents call home. While the new housing starts numbers were down between the period of 2000 and 2005, there were 226 multi-family dwellings and 355 single-family homes permitted during 2011 with those numbers growing even more in 2012, 2013, and 2014. The lull in the 2000 and 2005 period was mainly due to the fact that condos and townhomes were much more affordable for those wanting to get into home ownership.

Even though the area continues to grow, a number of factors have currently changed, which have transformed the real estate market in Ankeny. For example, construction costs have increased, and the ability to receive financing is more difficult than ever. Even though the lower interest rates are a huge draw, the criteria to be approved for this money has definitely changed.

The facts from the Census Bureau state that the construction for multi-family units in the area is growing at a faster rate than the construction of the single-family homes. One of the reasons for this is due to the fact that rent has increased, which makes new rental properties even more appealing for investors. According to Bloomberg, the financial advantage offered to homeowners over home renters is the largest it has been in the past two decades.

Another important factor to this is the fact that it is more difficult than ever to actually qualify for a mortgage. A multi-family unit is typically smaller and less expensive than the single-family homes, which is great for people who want to scale back.

The trends for Ankeny show that it is in the best position to face the new demands of a growing population. While there are some who are worried with the over development of the real estate market in this area, the fact is that, according to experts, this is not an issue that must be addressed presently.

If you are searching for any type of new real estate or property, visit the Century 21 website for more information.

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