Metropolitan Statistical Area (MSA):
New Philadelphia-Dover, OH is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the real estate market in the New Philadelphia-Dover, OH 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 plummeted during the Great Recession, only to rebound somewhat in recent years.
Looking ahead, it is difficult to predict where the market will go next. However, there are a few trends that seem likely to impact the housing market in the New Philadelphia-Dover MSA in the coming years.
First, population growth in the region is expected to remain relatively flat. This means that there will likely be more buyers than sellers in the market, which could put upward pressure on prices.
Second, interest rates are expected to rise modestly from their current historically low levels. This could make it more difficult for buyers to afford a home, and could lead to fewer sales overall.
Finally, job growth in the region is expected to be strong in the coming years. This could lead to more people moving into the area and increased demand for housing.