HomeVestors and Local Market Monitor Issue Industry Report on Top Ten Cities for Real Estate Investment
Grand Rapids, Michigan Tops List; Housing Market Experiences More Demand Than Supply
Dallas (January 12, 2016) – HomeVestors, the We Buy Ugly Houses® people, and Local Market Monitor, the premier real estate forecasting solution, today published the Best Markets Top Ten List for Real Estate Investing in the last quarter of 2015. The data is ranked based on cities with increased job opportunities in the past year. The overall national average increase was 1.9 percent.
Grand Rapids, Michigan topped the Best Markets Top Ten List, with Orlando, Florida coming in second. Texas cities remain strong, with San Antonio third, Dallas fourth and Austin fifth.
“Due to a shortage of home construction since the recession, local housing markets with a strong economy will experience more demand than supply in the next few years,” said Ingo Winzer, president and founder of Local Market Monitor. “This will create higher priced homes and rising rents.”
“In 2015, prices in all of the top ten housing markets have increased by at least six percent,” said David Hicks, HomeVestors co-president. “Prices will continue to rise, which is one of the reasons HomeVestors, the We Buy Ugly Houses® people, continues to become an excellent option for independent investors.”
The remainder of the list includes Portland, Oregon sixth; Seattle, Washington seventh; Charlotte, North Carolina eighth; Salt Lake City, Utah ninth; and Fort Lauderdale, Florida tenth. While housing prices continue to increase, cities such as Portland and Seattle present an opportunity for investors because of their increase in income due to the expansion of high-value industries.
The fourth-quarter 2015 Best Markets Top 10 List for Real Estate Investing includes:
- Grand Rapids, Michigan
- Orlando, Florida
- San Antonio, Texas
- Dallas, Texas
- Austin, Texas
- Portland, Oregon
- Seattle, Washington
- Charlotte, North Carolina
- Salt Lake City, Utah
- Fort Lauderdale, Florida
About the Quarterly Data:
The data identifies markets that will be good rental markets and where home prices are likely to rise at an increased rate over the next few years. Criteria include markets where:
- the population has been growing at above-average rates (four percent or better) with growth coming from people moving there in search of jobs;
- the current rate of job growth of two percent or better; and
- there is low unemployment, so that new jobs will be filled by people who move there, not by unemployed people who are already there.
Markets are excluded that:
Have a small population because they do not have stable economies.