Inman News™ just released their exclusive Special Report: 10 Best Markets for Real Estate which examined housing, demographic and economic data for hundreds of metropolitan areas nationwide.
Inman News™ just released their Special Report: 10 Best Markets for Real Estate Investors. This exclusive report examined housing, demographic and economic data for hundreds of metropolitan areas nationwide in developing a list of 10 markets that may be best suited for house-hunting investors.
The analysis considered markets with high affordability, low and dropping prices, a high market share of foreclosure sales, high population growth, an improving unemployment rate that is close to or better than the national average, high projected return on investment (ROI) over the next decade, and a low total cost of ownership-to-rent ratio.
The 10 markets are, in order: Indianapolis-Carmel, Ind.; Winchester, Va.-W.Va.; Gainesville, Fla.; Tucson, Ariz.; Tallahassee, Fla.; Hagerstown-Martinsburg, Md.-W.Va.; Salt Lake City; Richmond, Va.; Gainesville, Ga.; and Winston-Salem, N.C.
Seven out of the 10 markets are in the South, two are in the West, and one is in the Midwest. None of the markets are in the Northeast.
According to the report, investors tended to be more confident about the housing market than primary homebuyers: 77 percent of investors said “now is a good time to purchase real estate,” compared with 68 percent of primary-home buyers. “Historically speaking, whenever economics favored buying rather than renting, or … were about even, people favored buying because of the perceived benefits of homeownership,” said Rick Sharga, senior vice president of foreclosure data site RealtyTrac.
The selection and analysis of the top 10 markets for real estate investors included economic, housing and demographic data from a variety of sources. The report used U.S. Census Bureau figures for population growth between 2000 and 2010, and Bureau of Labor Statistics unemployment data.
The report also utilized affordability data from the National Association of Home Builders and median sales price data from CoreLogic, via NAHB. The median price data includes attached and detached residential properties and multifamily structures with up to three units. The data are sourced from public records.
To view the complete report along with a detailed account of the methodology, please visit: http://www.inman.com/reports/10-markets-invest/index.html. A free PDF copy of the report is available on the web site. Members of the press interested in additional information can contact press (at) inman (dot) com.
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