Why has there been an Increase?

1
Why has there been an Increase?
2
S
Property Values
D
D
0
413,000
Quantity Housing
3
Reasons for Increased Demand

• Consumer Taste and Preference
• Neighborhood Characteristics
• Community Characteristics
• Number of Consumers
• Population Growth in Oakland County

4
Reasons for Increased Demand

• Increase in Incomes
• Allow More People to Purchase
• Consumer Expectation about Future Value
• Expectation that Home Values will Increase
• Creates Self-fulfilling Cycle