What Determines Housing Prices?
The prices of homes are influenced by myriad of factors, including size, location, population and an area’s job market. But poor economic conditions can sometimes wipe out these variables even in the most posh areas of the country. The most recent manifestation of that trend took place in 2006 when U.S. home prices peaked, but plummeted during the recession that began in 2007 and officially ended in 2009.
