Infographic – Real Estate Markets: We love infographics and this one promises that these cities will be the best real estate markets around the US.
After 5 long years of deflated prices, the real estate market is finally on the path to recovery. In fact, home prices rose by 4.9% nationwide. That makes for a healthy housing region, and where are these areas?
We take a look at median rent and sale prices in United States cities that are booming with strong job growth (which bodes well for housing demand) and low vacancy rates (which may encourage new construction). Here are the healthiest markets for 2013.
Of the 10 healthiest real estate markets, 4 are in Texas and 2 are on the West Coast!
The Healthiest Real Estate Markets for 2013
- Houston, TX – Affordable houses and strong job growth continue to attract people to this city that is projected to be the nation’s strongest housing market in 2013.
- San Francisco, CA – Tech jobs in the Bay Area have grown by a third since the start of 2012, according to new figures released by San Francisco’s Assessor-Recorder Phil Ting.
- Rockville, MD – Rockville’s job growth in the first 10 months of 2012 was one of the highest rates in the US, while maintaining the nation’s lowest vacancy rates.
- San Antonio, TX – The region was chiefly unaffected by the housing crisis and, since November the median asking price per square-foot in the area was less than nearly two-thirds of the nations’ largest real estate markets.
- Austin, TX – Driven by a surge in sectors such as technology, education, health care and construction, the regions 2.5% job growth was the third-largest of all metro areas.
- Seattle, WA – Home prices fell more in Seattle during the recession than in any of this year’s other top markets. Seattle prices fell by nearly 26%. Now, Seattle is experiencing an 11% increase in prices for homes, as well as high levels of construction.
- Omaha, NE – The unemployment rate in the Omaha metro area held at just 3.9%, helping the city retain its strong economy, which now continues to flourish.
- Peabody, MA – According to a report by the Boston Globe, single family home sales for all of Massachusetts were up almost 22%. The strong job growth rate and affordable housing have made Peabody one of the most attractive cities for young families.
- Ft Worth, TX – Mining, logging, and construction jobs grew by nearly 10% in the last year. With jobs in both education and health services and professional services– the two largest nongovernment sectors- growing by nearly 6%, Ft. Worth is one of the most affordable cities for young professionals.
- Louisville, KY – Thanks to strong growth in manufacturing particularly within the automobile industry, Louisville has maintained impressive job growth numbers.
Are you in any of these markets? If not, how is your market doing?