Johnstown, PA 15904 housing market

What this means

• Valuation. Prices are 18% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are flat over the past year (U.S.: +1.2%), but still 24% below their 2022-23 peak.
• Supply. Listings are 70% below the 2017-19 norm and rising (+50% vs. a year ago): still a tight market.
• Negotiating. Buyer leverage is low (1/100; U.S.: 54): homes typically sell at or above asking (103.5% of list); 10% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 19% of the median household income (U.S.: 35%); it takes about $44k a year to keep the payment at 30% of gross pay. That includes about $995 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Owning and renting a typical home cost about the same per month.
• Disaster risk. FEMA expects about $41 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. Leaning up: likely −7% to +10% over the next 12 months (67% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −6.8% to +9.5% (80% range; middle estimate +2.5%), chance of a rise 67%, of a 5%+ drop 14%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

Other ZIP codes in Cambria County, PA