Metropolitan Statistical Area (MSA):
There is no doubt that the Bismarck, ND metropolitan statistical area (MSA) has seen some incredible real estate trends over the past few years. The most notable trend has been the meteoric rise in home prices, which have more than doubled since 2012. This has been driven by a number of factors, including strong economic growth, low interest rates, and limited supply of housing.
As we enter 2018, it appears that these trends are set to continue. Economic conditions remain favorable, with strong job growth and wages beginning to rise. Additionally, mortgage rates are still relatively low by historical standards. This combination should continue to support strong demand for housing in the Bismarck MSA.
Of course, there is always the potential for unforeseen events that could impact the housing market. However, barring any major unforeseen shocks, it seems likely that 2018 will be another banner year for the Bismarck real estate market.
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