October 25th, 2013
Real estate information company RealtyTrac recently released a list of the top five cities with favorable real estate markets.
Two of the cities listed are friendly to new residents looking for a space.
For instance, the housing market in Las Vegas is advantageous for buyers. Current prices are up 22 percent, which bodes well for selling equity. Unemployment is less than 10 percent, and mortgage rates are also doing well. The average rate for the city is low, at 3.75 percent – well below national averages.
The New Orleans’ housing market also caters to buyers. Large commercial real estate investments following Hurricane Katrina along with a revival to the city’s quality of life have pulled many new people within the borders.
Workers transferring to these locations for extended periods of time have options if owning is more advantageous.
On the other hand, Miami, San Francisco and Houston are beneficial for selling a property. In Miami, demand is heavier than supply, and prices are up 4 percent this year. San Francisco’s home values have also gone up 21 percent on the year, and many people are looking to buy. Houston’s home prices are at the highest level since 2008.
Transferees who are trying to sell their current properties should have no problem finding buyers in these markets.