Many of the nation’s large cities suffered real estate market setbacks as a result of multiple, mainly pandemic-inspired factors. Companies moved out of cities, taking jobs with them and house-hunting new employees and investors created massive supply and demand issues in areas that were previously buyers’ real estate markets.
Real estate fintech company, Fund That Flip, analyzed data from September 2021 and identified 10 metro areas with healthy moderate- to high-income real estate markets. The factors they used to determine market growth included: growing home values, final sale price compared to price listed (sale-to-list ratio), home sale turnaround time and an area’s business growth and unemployment rates.
Related: Is Arizona Still Affordable?
Austin, Texas
House-hunting new employees followed the migration of tech businesses to the capital city of Texas, making the “Live Music Capital of the World” an even more desirable place to live.
Boise City, Idaho
Thanks to an influx of new residents and investors, the job market of this part of the metro area of Idaho’s capital city is experiencing the fastest recovery in the nation.
Buffalo, New York
Due to the pandemic, the affordable homes and investment properties caused an explosion in the population growth of this city where the Buffalo Bills’ tailgating experience is ranked one of the best in the country.
Dallas-Fort Worth, Texas
The real estate market is excellent in this friendly Texas region, based on the high-paying tech and finance jobs that made it the top job market in the nation.
Related: What Cities in the US Have the Largest Growth in Real Estate?
Jacksonville, Florida
Job seekers inundated the largest city in Florida and flooded the real estate market, making this natural paradise just as popular as its beautiful beaches.
Phoenix, Arizona
Already the largest city in the state, the capital of Arizona has experienced even more population growth based on employment opportunities from technology, finance, aerospace, cybersecurity, e-commerce and health care firms in the area.
Related: The Best Arizona Cities to Call Home
Raleigh, North Carolina
The demand for homes in another capital city, Raleigh, is also based on a booming job market from industries including IBM, Cisco, GlaxoSmithKline and Fidelity Investments.
San Francisco, California
At the start of the pandemic, residents and businesses left the Bay Area, but the real estate market has started to recover, and San Francisco is regaining its popularity with high-income home buyers.
San Jose, California
Tech industry employees and investors are turning this metro area near San Francisco into another real estate market popular with high-income home buyers.
Seattle, Washington
High home appreciation rates have attracted more investors and, although the market is cooling a bit, the inventory of available homes for sale is in this beautiful west coast city is remarkably low.
We aren’t surprised to see that Phoenix made the list, and whether you’re searching for a new home, ready to sell your home, or have questions about the local market, feel free to contact our office and we’d love to help you with all of your Arizona Real Estate needs.
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