Owning a home—whether in St. Cloud, in Minnesota, or in any other state—is Americans’ most trusted way to build wealth. That’s the takeaway from Gallup’s poll, conducted this.
Do St Cloud Home Sales Reflect A New Facebook Effect
According to an educator in NYU’s finance department, if your St. Cloud house has experienced the kind of growth that’s been typical over the past couple of years, your Facebook friends will be more likely to buy a home themselves. Improbable as it sounds, Dr. Johannes Stroebel says that his research shows this as a measurable probability because “friends’ experiences…influence personal behavior” when it comes to their housing decisions.
The results of Dr. Stroebel’s study emerged from a panel discussion held this month. The conversation took place in Washington, DC, as part of the annual Realtors® Legislative Meetings & Trade Expo. Most of the headlines from that gathering centered around the midyear forecast by NAR Chief Economist L. Yun. He sounded the kind of optimistic note that will be music to local homeowners—particularly if they are planning to sell their own St. Cloud house anytime soon. After several years of wage growth that exceeds home price growth, the two are now aligning more rapidly than heretofore. The bottom line is that “home sales should be much stronger.” The continuation of low mortgage interest rates adds to that probability.
NAR optimism aside, the announced Facebook effect prompted further discussion. It was shown that renters whose Facebook friends experienced a 5% growth in their house prices over the past two years have a 3% greater chance of buying their own home within the next two years. The effect is more pronounced in “socially-connected counties,” where positive experiences “were even shown to increase the size of a home” that was purchased.
Whether or not you believe yourself to be sufficiently “socially connected,” it’s hard to quibble with Dr. Stroebel’s finding that “individuals do discuss property value with their friends, and this changes behavior.” For an up-to-the-minute update on St. Cloud home sales in today’s market, you don’t need to consult your Facebook friends—just give me a call!
Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota.We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:
Five Office Locations To Serve YOU!
Premier Real Estate specializes MANY areas around Central MN includingSt. Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, St. Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, St. Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center and more!
Passion for investing in real estate brought me to create Premier Real Estate Services in 2002. Ten years of purchasing & managing several rental properties, while assisting friends & clients with bot....
Latest Blog Posts
Volumes have been written on the art of negotiating—with more certain to come. Especially in real estate, it will always remain an open-ended discussion because of the infinite variety of
Before a first-timer has experienced the complete home-buying process, given the number of unknowns that seem to be dependent on one another, they’re bound to be at least a little baffled. What