Zip Code:
65622 is a Missouri Zip code within the city of Buffalo and the county of Dallas County. Its population is roughly 8,182.
There is no one answer to the question of how home equity and home prices have changed in the 65622 zip code of Buffalo, MO. Factors such as interest rates, local market conditions, and personal preferences all play a role in determining whether or not someone can afford to buy a home and what their home’s value will be. However, some general trends can be observed.
Since the Great Recession began in 2007, there has been a steady decline in the number of homes sold in the 65622 zip code of Buffalo. In 2007 there were 1,827 homes sold in this area; by 2016 that number had decreased to 1,521 sales (Zillow data). This decrease is likely due to a number of factors including low interest rates and increasing competition from other areas within Missouri and across the United States. Additionally, many people who would have been interested in purchasing homes during this time period were instead forced into foreclosure or saw their homes devalued as a result of the recession. As a result, it can take longer for buyers who are looking again to find an affordable property that meets their needs.
Despite these challenges, there has been an increase in home equity for residents of the 65622 zip code over time. Between 2007 and 2016 median home equity increased by $40 thousand (Zillow data). This trend may be partially attributed to rising prices overall within Missouri but may also be indicative of strong economic fundamentals within this area – such as low unemployment rates – which make it easier for people to save money and invest in property assets over time. Additionally, many homeowners who were able to weather the recessionary storm now have more equity available than ever before which may help them finance larger purchases or refinance into more affordable loans if they decide they want to sell down the road.
Price Index: Springfield, MO
Zipcode | Population | Density | Timezone | Latitude | Longitude | City | County | State |
---|---|---|---|---|---|---|---|---|
65663 | 2,756 | 9.5 | America/Chicago | 37.62119 | -93.24482 | Half Way | Polk County | Missouri |
65590 | 1,157 | 6.6 | America/Chicago | 37.61611 | -92.94628 | Long Lane | Dallas County | Missouri |
65685 | 876 | 10.1 | America/Chicago | 37.75419 | -93.15660 | Louisburg | Dallas County | Missouri |
65783 | 146 | 3.2 | America/Chicago | 37.71731 | -92.93339 | Windyville | Dallas County | Missouri |