26855, Cabins, WV

The 26855 zip code of Cabins, WV is located in the eastern panhandle of West Virginia. The area has a population of just over 2,000 people and an average household income of just over $40,000. Home prices in this zip code have been increasing rapidly in recent years, reaching an all-time high of $269,900 in March 2017. This rapid increase in home prices has led to some concerns about the long-term stability of the market.

One reason for the increase in home prices is that there are relatively few homes available for sale in this zip code. In fact, only 9% of homes available for sale are currently located within the 26855 zip code boundaries. This shortage of inventory is likely to continue to drive up prices as more people become interested in purchasing a home here.

Another factor contributing to the rise in home prices is the strong economy overall. Since 2007, when the recession began, West Virginia has had one of the fastest rates of economic growth nationwide. As a result, more people are able to afford homes and are looking to buy properties here.

However, despite these positive factors, there are also some potential risks associated with rising home prices. For example, if interest rates begin to rise again (as they have done recently), then homeowners who owe a lot on their mortgages may find themselves struggling to make their payments even as their home values continue to rise. Additionally, if there is another major economic downturn (as we experienced during the recession), then many homeowners who took out high-interest loans may find themselves unable or unwilling to repay them even if their homes remain worth substantially more than when they originally purchased them.