Analyzing the Current Real Estate Market
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Justin Gensch
College:
College of Business and Public Management
Major:
Business Management - Analytics Option
Faculty Research Advisor(s):
Huaibing Yu
Abstract:
Mortgage interest rates are among the many high interest rates that exist in the United States today. Taking into account the already inflated prices of real estate; this is not a market that is considered to be "buyer friendly." When will the average American be able to afford a home once more? Using data from the historical real estate market, such as mortgage interest rates, prices, and the number of buyers, this report will forecast the answer to this question. Additionally, it will investigate the causes of the current high interest rates in greater detail and make an attempt to predict when they will decline.Many people rely on their properties for their livelihood, including builders, contractors, landlords, and house flippers; not to mention real estate agents and brokers. A thriving real estate market supports a wide range of industries; so high interest rates and prices does have an impact on the overall economy.