The Pittsburgh Post-Gazette recently published an interesting article about more and more investors coming to the Pittsburgh real estate market.

Steve Guy, president and CEO of Oxford Development Co., told the paper that the Pittsburgh real estate market is seen as a considerably more stable real estate market than other places, such as San Francisco or Boston.

Some of the factors that have painted the Pittsburgh real estate market in such a positive light lately include:

  • Increasing occupancy and rental rates
  • Job growth
  • Steady existing industries, including in the areas of energy and health care
  • And more!

The Pittsburgh Real Estate Market is  Steady and Growing

In addition, while other real estate markets experienced the extremes of the housing market bubble and subsequent burst, the Pittsburgh real estate market has remained relatively stable throughout it all.

There’s even signs of growth lately.  For instance, there are a number of new or returning tenants to downtown Pittsburgh lately.  Some investors estimate that the occupancy rate in the downtown is as much as 94 percent!

Some other signs that the Pittsburgh real estate market is remaining strong despite the current economic climate nationwide:

  • Leasing rates in downtown Pittsburgh have increased by about 15 percent over the last two years.
  • Rental rates are expected to increase by about 6.5 percent over the next year.

Investing in Pittsburgh Real Estate

Although the article mostly focused on commercial and industrial real estate, interested Pittsburgh home buyers should be encouraged by the news in the article.

That’s because everything is connected when it comes to local real estate markets.  If more people are investing in commercial Pittsburgh real estate, then more people will likely be moving to the Pittsburgh area for jobs.

As more people move to the Pittsburgh area, there will be more demand for Pittsburgh homes for sale, which will improve the overall Pittsburgh housing market.

Thinking about relocating to the Pittsburgh area?

Now is a great time to do so! The Pittsburgh real estate market is not only holding strong  – it’s thriving!

Contact me, Jim Dolanch, today to learn about all of the wonderful residential communities in the Pittsburgh area.

As your Pittsburgh real estate expert, I’d be happy to answer any questions you might have and to help make your Pittsburgh real estate transaction process easy and worry-free.

Until next time,

Jim