Pennsylvania dominates list of sustainable housing markets

Five Pennsylvania cities were named to the top 10 metros for sustainable housing markets.

Johnstown landed in first, followed by Chambersburg-Waynesboro in sixth, Pittsburgh in seventh, Harrisburg-Carlisle in ninth and Erie in tenth. According to Nationwide’s latest Health of Housing Markets Report, the Leading Index of Healthy Housing Markets is positive, thanks to solid jobs, improving demographics and a stable mortgage market across the country. The higher cost of housing, thanks primarily to low inventory, is labeled as concerning. However, in more than 80 percent of local housing markets, the outlook is positive. Across Pennsylvania, every major housing market in the state is positive.

Johnstown was also named one of the top three metros in the U.S. to see an increase in ranking. More than one-half of the ratings have remained unchanged over the past year, suggesting stability in many major metros.

“The housing market in Johnstown right now is doing well,” said Cambria-Somerset Association of Realtors® President Bill Lease. “We are moving houses in all price ranges. It’s been constant for the past six months to a year. It was a mining and steel town, but it seems that businesses are picking up again, I think that has a lot to do with it. It’s a relatively small town. It’s a nice place to live, the housing is relatively inexpensive compared to other places in Pennsylvania and across the nation. A lot of people are looking for all four seasons, and we definitely have that here.”

Lease said the area offers many amenities, like snow skiing, a minor league hockey team, hiking and biking and trails.

“It’s a great area. I wish more people would take advantage of it,” he added.

The report showed that the average home was on the market was for 67 days in 2017, a decrease from 120 days in 2011.

“As we head into spring and the traditional season when sales heat up, buyers will find that desirable homes won’t be on the market for long,” said David Berson, Nationwide senior vice president and chief economist. “Today, the average home is on the market almost half the length of time that it was six years ago. Of course, that is good news for people looking to sell their home.”

In the previous quarterly report, only one Pennsylvania metro, Philadelphia, made the top 10 list, and no Pennsylvania metros made the most improved list.