Conversely, the percentage of renters in Westwinds Park has generally decreased over time, from 24% in 2013 to 17% in 2022. Interestingly, average rent prices have shown some volatility during this period. In 2013, the average rent was $879, which decreased to $795 by 2019, representing a 9.6% drop. However, there was a significant decrease to $593 in 2020, followed by a sharp increase to $881 in 2022, a 48.6% jump in just two years. These fluctuations in rent prices don't seem to directly correlate with the steady decline in the percentage of renters, suggesting other factors, such as local economic conditions or housing policies, may have influenced renting patterns in the neighborhood.

Looking at the most recent data, the average home price in Westwinds Park reached $222,041 in 2023 and further increased to $230,699 in 2024. This represents a substantial 12.2% increase from 2022 to 2024. Notably, federal interest rates have also risen significantly during this period, reaching 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, which typically make borrowing more expensive, home prices in the neighborhood have continued to appreciate.

Applying predictive models to forecast 5-year trends, we can expect average home prices in Westwinds Park to continue their upward trajectory, potentially reaching around $275,000 to $290,000 by 2029. This projection is based on the consistent growth pattern observed over the past decade. For rent prices, the forecast is less certain due to the recent volatility. However, if the trend stabilizes, we might see average rents in the range of $900 to $1,000 per month by 2029.

In summary, Westwinds Park has experienced a significant increase in homeownership rates and average home prices over the past decade, with a corresponding decrease in the percentage of renters. The neighborhood has shown resilience in its property values, even in the face of rising interest rates. The most notable trends include the substantial rise in homeownership from 2013 to 2020, the consistent increase in average home prices, and the recent volatility in rent prices. These patterns suggest a growing desirability of the neighborhood for homeowners and potential challenges for renters in the coming years.