Reading named one of the top markets where housing prices are “unstoppable”

Reading was recently named one of the top 10 strongest housing markets, a list of places that have seen with double-digit annual price growth, according to realtor.com®.

“Reading has been pretty stable for a long time,” said Reading-Berks Association of Realtors® President Mark Mohn. “There wasn’t a huge boom in Reading when the market was crazy, so there wasn’t a huge drop when the market went under. There was certainly some price reductions that had occurred, but it wasn’t as bad as other areas.”

Mohn said today the city offers a lot of opportunities for any homebuyer, but especially first-time buyers or those looking for investment properties. According to realtor.com®, the median list price in Reading was $200,000 in December 2018, an increase of 14.2 percent from December 2017, but still affordable. Inventory in the area also saw a decrease of 10 percent year-to-year.

In addition to affordability, Reading has more to offer for buyers. “Many various groups in the city are working on revitalizing it, making it a better place to live and offering more business and employment opportunities. We, as an association, met recently with some members of the planning department of the city, and we’re encouraged by what they have to say to help move Reading forward in the years to come,” said Mohn. Mohn also added that Reading offers a reasonable commute to several bigger cities.

“There is a lot the county as a whole has to offer to someone who buys here. Prices are extremely affordable compared to neighboring counties, and there are a lot of activities for families. There are some cool attractions in the city and nearby, there’s always something to do, whether it be music, sports, culture or art,” added Mohn.