18706, Wilkes Barre, PA

Wilkes Barre, PA, is a city in Luzerne County, Pennsylvania. According to the 2010 census, the population of Wilkes Barre was 38,971. The 18706 zip code covers much of Wilkes Barre and has a population of over 30,000 people. Home equity is an important part of the American economy and home prices are an important indicator of economic health.

Home equity is the difference between what a homeowner owes on their home and what their home is worth. Over time, homeowners can use this money to pay down debt or invest in other assets. Home prices are an important measure of how expensive homes are relative to other investments available to investors.

There are several factors that affect home prices in Wilkes Barre: interest rates, supply and demand, local economic conditions, and zoning laws. Interest rates play a major role in determining how much money homeowners can borrow against their homes. When interest rates are high (like they were during the Great Recession), it makes it more difficult for homeowners to get loans against their homes and therefore increases the price of homes relative to other investments. Supply and demand also play a role in determining how expensive homes will be. When there is more demand for homes than there are available units, prices will go up because there is pressure on suppliers (builders) to increase their prices as well. Local economic conditions also have an impact on home prices; when businesses in Wilkes Barre do well (like they have recently), housing values tend to go up too because people want to live near these successful businesses. Zoning laws can also influence home values; if a neighborhood has restrictions on building height or types of buildings that can be built there, then the value of homes within that neighborhood will be higher than if those restrictions weren’t present.

Overall though, interest rates, supply and demand, local economic conditions and zoning laws all work together to determine how expensive houses will be in any given area at any given time