Hampton Homes for Sale Are Close to Employment Centers
January 25, 2013
When buying a home, families should consider housing prices relative to employment opportunities. While Hampton homes for sale have seen price collapses in recent years, they are close to several major employers, such as the U.S. armed forces and logistics services. As such, a potential buyer should visit the area and assess its fit, for homes are affordable.
Hampton homes for sale have enjoyed a major markdown in price, much like Suffolk homes for sale and Virginia Beach homes for sale. Housing prices have come down 16 percent since 2008, according to Zillow.com. With mortgage interest rates at record lows, Hampton homes for sale have not been a great value in decades.
To be fair, the price of Hampton homes for sale have been insulated by relative economic stability. The U.S. Navy, a major regional employer, changes size more based on Washington decisions than business cycles. In fact, BRAC realignment elsewhere in the past decade has concentrated east coast assets into Hampton Roads. This has been a boon supporting prices for Norfolk homes for sale and Newport news homes for sale, given their relative price stability.
With low prices and employment stability, Hampton homes for sale remain one of the best values in home buying. Those considering settling in Hampton Roads should look at retail housing options in the area, and assess whether home buying there is right for them.