WALTHAM, Mass., July 31, 2018 /PRNewswire/ — This month’s Pro Teck Valuation Services Home Value Forecast examines the seemingly positive impact marijuana-legalization is having on housing markets across the country.
According to recent studies, the legalization of retail sales of marijuana is having a positive impact on home values. Looking at our Top 10 data, sale prices increased by an average of 10% across the nine metros from marijuana-legal states. Across other market statistics, such as Months Remaining Inventory, Active Price Change, and Days on Market, these pro-pot markets are all trending up.
You’d imagine that some homeowners would want to sell their homes fast if all of their neighbors are smoking weed every day and they can do so here, but that doesn’t seem to be the case. In fact, the legalization of marijuana seems to be attracting new buyers. Perhaps it’s because the neighborhoods are more relaxed or perhaps they have medical conditions which marijuana helps ease, but either way, the property market is doing very well.
In this month’s report, we look at just how marijuana might be spurring this growth, and what the implications are for future weed-friendly markets.
“Marijuana is being viewed less as a ‘blight’ on society, and more as positive investment opportunity – which is being reflected in housing market data,” said Tom O’Grady, CEO of Pro Teck.
Click here to read the entire forecast, including data and graphs that further highlight market trends discussed in this release.
About Home Value Forecast
Home Value Forecast (HVF) is brought to you by Pro Teck Valuation Services. HVF provides insight into the current and future state of the U.S. housing market and delivers 14 market snapshot graphs from the top 30 CBSAs.
Reporters interested in national, regional or metro level housing data tailored to meet story needs, please email your inquiry to mediarequest@protk.com.
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