Even in 2020, real estate investing is still incredibly popular, but not all markets are created equally. In this article, we are going to analyze trends in some of the most lucrative real estate markets in the US in order to show readers the types of investment opportunities that they are likely to find.
We scoured the country to find out which cities are currently worthy of attention from investors. Our sources have indicated that Scottsdale, LA, Vegas, and Phoenix are both prime real estate markets for investment opportunities. We’ll also take a look at a handful of other markets, including Boise, Austin, Tampa, Nashville, and Santa Fe. If you’ve got a big budget, we recommend checking out Luxury Real Estate in Las Vegas or one of the other locations we have named. Location is everything when you’re buying a house.
Is There a Reason Why These Cities Are Worthy of Your Attention?
We’ve been able to tap into a major surge in real estate sales in the US because we’re monitoring several key indicators. An increased inventory of sub-prime real estate available in certain cities causes a dramatic improvement to the value of homes that are available to buyers. In addition to housing shortages, the cities that we’ll be discussing in this article are located within states that have lenient tax laws.
There are many social and economic indicators that are related to a prime real estate market. One of the main indications is when a city has numerous jobs that pay employees well, and this is usually true of cities in states that have policies which are friendly to local businesses.
States with policies that are lenient regarding short term rentals (such as Airbnb) are more likely to contain cities that have booming housing markets. In addition, these cities usually don’t have a lot of conflicts at the HOA level.
- Scottsdale/ Phoenix Area
Indicators Showing up in Scottsdale: According to our research, the housing market in Scottsdale is very hot right now, and there’s a good chance that it will remain that way for several years to come. If you’re wondering whether it’s time to invest in real estate in any city, you should look at three key indicators.
Before you break out your checkbook, you should see how the average value for homes has changed over the last year. Take a look at the forecast for the average value of a house in the upcoming year, and find out the actual price of the average home.
What the Market is Like: The average value for homes in Scottsdale has been increasing at a rate of 6.5 percent over the last year, and this value is expected to go up over the next year at a rate of approximately 6 percent.
In this city, the median value for a home is approximately $532,000. However, homes are listed at an average price that’s around $150,000 higher. Interestingly, homes are selling at an average price that’s over $100,000 less than the median value, so you could potentially have a good deal for an investment in this area.
Schools: Real estate investing involves more than finding a good deal on a house, for you’ll need to persuade a buyer or renter to take over payments in order to profit from the purchase. One way to find a worthwhile investment opportunity is to look for cities that have good schools because this is something that parents consider when they look for a new place to live.
With that in mind, you’ll be glad to know that this city has plenty to offer in terms of schools for children and higher education for adults. Scottsdale Unified School District provides public education for children in the area, there are colleges in Scottsdale, and many people commute to Arizona State University from this city.
Attractions: Downtown Scottsdale is an affluent area that contains plenty of art galleries and museums; there are regular events happening in the arts scene in this part of Scottsdale. This is one of many reasons why Old Town Scottsdale condos for sale have been one of the hottest selling real estate investments in the area.
What the Market is Like: The market value for homes in Boise, Idaho has been increasing by a whopping 10.4 percent over the past year, and that number is expected to continue to rise throughout the upcoming year. While the median value for homes listed in this city is approximately $323,000, the average listing price for homes in Boise is a little higher. For people looking to sell homes or properties in Boise (or other cities in Idaho), some helpful tips can be found on real estate blogs, like the ones at Statement Premier Real Estate (https://meridianidhouses.com/meridian-home-selling-tips)
Schools: Families with children will be enticed to find out that the majority of people living in this city have reported that neighborhoods are friendly. There are two school districts for this city, and there are a total of 65 public schools to choose from. College students could choose to attend Boise State University, and there are actually a few satellite campuses from the University of Idaho and Idaho State.
What the Market is Like: People who are looking for opportunities in real estate investing should head over to Austin because the market is hot. According to our research, the average price of houses in Austin, Texas has been rising by over 5 percent in the past year. The average value of a house in this city is a little more than $400,000, and the average listing price is just a few thousand dollars higher.
Landmarks: The downtown area of Austin is where the business district is located, and some condos in this area hover over 50 stories tall. 6th Street is the place to go for entertainment and nightlife, including a variety of music and film festivals.
What the Market is Like: Investors should take a close look at Tampa, Florida because the average value of homes in the past year has gone up by over 5 percent. The average value for houses in the area is just above $250,000, but both the average listing price and the average sale price are slightly higher.
Schools: Tampa’s Hillsborough County Public School District is the eighth largest district in the country. There are over 200 schools in the district, and there are also 73 alternative schools in Tampa. There are various higher education institutions in the city, including the University of Tampa and the main campus for the University of Southern Florida.
What the Market is Like: The housing market in Nashville has been hot for the past year: the average price for homes in this city has risen by over 5 percent. However, this figure is expected to drop by a single percentage over the next year.
Schools: The city of Nashville is home to approximately 85,000 children, and there are a total of 169 schools in the Metropolitan Nashville Public School District. Nashville is also the site of several higher learning institutions, including four historically Black colleges.
- Santa Fe
What the Market is Like: The housing market in Sante Fe is really hot right now: the average value of homes in the capital of New Mexico has risen by over 5 percent in the last year. However, the average value of homes in Santa Fe in the next year is supposed to be slightly less.
Schools: New residents in Santa Fe will be happy to find out that they’ll be able to send their children to one of the two public high schools, and there’s one art school that interested parties must apply to attend. For graduates, there are a few colleges, including a reputable art therapy institution called Southwestern College.