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Factors Influencing House Prices
Several key factors influence house prices, and understanding these can help you predict market trends. Economic indicators such as employment rates and GDP growth often correlate with housing demand. Additionally, interest rates play a pivotal role; lower rates typically increase buyer affordability, driving up demand and prices. Location-specific factors, including school district quality, crime rates, and proximity to amenities, also significantly impact property values. For instance, homes in areas with high-performing schools tend to command higher prices1.