(Photo: Daxis via Flickr)
By Joanna England
Three Texas MSAs are ripe for investors, according to a report from the Home Buying Institute. Markets in Austin, Dallas, and San Antonio are attracting investment at a breakneck pace, putting them in the top 10 best markets to invest in a home out of 100 MSAs. After an analysis by Forbes and Local Market Monitor, these three cities were named “Best Buy” housing markets. San Antonio beat the Dallas real estate market, with Austin following. the cities ranked third, sixth, and seventh, respectively.
Additionally, the Home Buying Institute named Dallas one of the hottest markets in 2016, and considering the pace at which sales are clipping along — especially cash sales from investors — we have to agree. The market is huge for builders and teardowns, which seem to happen every day in the Park Cities and East Dallas neighborhoods such as Lakewood and Forest Hills.
Jump to see what other cities landed on the Top 10 Best Buy Markets for Investors:
To find out which cities were poised to give investors a solid return, Local Market Monitor analyzed the 100 largest metropolitan statistical areas in the U.S. (all with populations of 600,000 or higher). They then identified housing markets with favorable conditions for investors and “regular” home buyers alike. These markets all have healthy job growth, population growth, and anticipated home price appreciation.
Top 10 “best buy” housing markets for investors, with average home price:
- Grand Rapids, MI – $154,348
- Orlando, FL – $202,809
- San Antonio, TX – $200,522
- Charlotte, NC – $220,758
- Salt Lake City, UT – $258,371
- Dallas, TX – $211,245
- Austin, TX – $281,355
- Fort Lauderdale, FL – $258,577
- Seattle, WA – $370,306
- Cape Coral, FL – $211,531
According to Zillow, home prices in Austin and Dallas rose by double digits last year. Additional, but more modest, gains are expected in 2016. This is partly due to the supply-and-demand imbalance mentioned earlier. In short, there aren’t enough homes for sale in these real estate markets to satisfy demand.
Local Market Monitor expects prices in these housing markets to continue climbing over the next few years. Their three-year home price growth projections for Austin, Dallas and San Antonio are all above 25%. The authors explained that “there continues to be a shortage of housing supply, meaning prices are likely to keep on rising.”
Original article: http://candysdirt.com/2016/02/19/dallas-real-estate-market-investors/
