Dive Brief:
-
Despite lower oil prices and oilfield layoffs, Texas “continues to be a sure bet” for real estate investors, according to data from HomeVestors and Local Market Monitor, a national real estate forecaster.
-
The Top 3 markets for real estate investing, the organization said, are the Texas cities of Houston, Austin, and Dallas. Rounding out the Top 10 list are: Denver; Orlando; San Jose; Seattle; Oakland, CA; Miami, and Portland, OR.
-
The rankings are based on robust rental markets, rising home prices, growing populations, job growth, and low unemployment.
Dive Insight:
The best markets for investors are those whose economies are growing quickly, because that produces jobs and attracts renters—the target of real estate investors. The cities on the Top 10 list for investors also have a low inventory of for-sale housing, which guarantees that property values will continue to increase as homebuilders scramble over the next few years to catch up with increasing demand.