The housing market has increasing momentum with specific markets hotter than others. While some cities may be experiencing a housing bubble– or a run-up in housing prices fueled by demand and speculation, most experts agree that U.S. real estate is not currently experiencing a bubble. As property sales continue to reach new heights, it is more important than ever to look for markets expected to be fast-growing and dynamic. Each market has its unique strengths and weaknesses, and as U.S. cities continue to expand, investors and homebuyers must compare and analyze to find the best opportunity for possible.
I explored several of these leading markets in a previous blog. Here now are several more promising markets to keep an eye on.
Washington D.C. (Metro Area)
The D.C. metro area has been in a position of growth since the beginning of 2018, increasing in office space by over one million square feet last year. The area shines as a coveted market thanks to its affordability, accessibility to a variety of other major cities, and its variety of appealing neighborhoods ranging from Deanwood to Mt. Pleasant.
A variety of California real estate markets have gained value in the last year; among them, San Francisco, San Jose, and downtown Los Angeles. The latter is arguably the biggest surprise, as the downtown LA area has long carried a reputation of being unsafe. The city has taken big measures to making itself more habitable, however, implementing better safety protocol (including fleets of street guards on bicycles).
Minnesota packs a major real estate one-two punch in its “Twin Cities,” St. Paul and Minneapolis. These neighboring markets alone make the state a force for interested buyers and investors, yet it remains a well-kept secret when mixed with its contemporaries. Together, the Twin Cities offer one of the lowest vacancy rates for apartments in the US — not to mention noticeable growth in prevailing industries such as technology and healthcare. A long list of famous attractions — like the Science Museum of Minnesota and the Cathedral of Saint Paul — serve as icing atop an already appetizing cake.