Metropolitan Statistical Area (MSA):
Fort Leonard Wood, MO is a Metropolitan Statistical Area (MSA) comprising counties including Pulaski County.
There is no doubt that the real estate market in the Fort Leonard Wood, MO metropolitan statistical area (MSA) has been on a roller coaster ride over the past few years. After reaching record highs in 2006 and 2007, prices came crashing down during the Great Recession of 2008 and 2009. However, since bottoming out in 2010, prices have been steadily rising once again and are now approaching pre-recession levels.
One of the main drivers of this trend has been the strong job market in the MSA. The unemployment rate has fallen from a high of 9.5% in 2010 to just 4.0% as of September 2018, which is well below the national average of 3.7%. This has led to more people having the financial security to buy a home, which has helped drive up prices.
Another factor that has contributed to rising prices is low interest rates. Mortgage rates are currently hovering near historic lows, making it an ideal time for buyers to enter the market. With rates expected to rise modestly over the next year or two, now is a great time to buy before they start going back up again.
Overall, it seems that the real estate market in Fort Leonard Wood is on solid footing and should continue to rebound in 2019 and beyond. If you're thinking about buying a home in this area, now may be a great time to do so before prices start climbing even higher!