Recent headlines appearing in publications across the U.S. have been calling to the rising prices of real estate, the rates at which the housing market is finally bouncing back after the recession, and steady mortgage rates continuing into the homebuying season. So, if someone asked me if now was the time to invest in real estate? I would have to answer with a resounding “yes!” And Forbes agrees. In a recent feature, the company made a list of the best places to invest in housing in 2017.
The list was created with Local Market Monitor, a North Carolina-based company that tracks more than 300 housing markets. For this report, they focused on population size, job market, and home prices. In their number one spot, Dallas, Texas is expected to grow the most of any listed city. Also, Forbes reports that “homes in Dallas are undervalued compared to historic averages and local income.”
Seattle came in at number four on the list but the average home price is second. “Prices in Seattle rose 12% last year, the most of any list city,” the article states. Local Market Monitor CEO Ingo Winzer was stated as saying, “In the very top markets, both population and jobs are growing at high rates and builders aren’t able to keep up, which is why home prices have increased rapidly and rental demand will be strong.”
Other cities on in the top five are all in Florida: Jacksonville, Orlando, and West Palm Beach. All of these cities have projected growth rates that greatly exceed the national average in the next three years. Interestingly enough, our neighbors to the south (Portland, Oregon) don’t appear on the list of twenty cities at all.
To read the full report, please visit Forbes.