10 resi markets with a boom on the horizon

Local Market Monitor identified the top markets where home prices are estimated to rise up to 15 percent per year

TRD WEEKEND EDITION /
Jul.July 08, 2018 01:30 PM

Denver, Colorado. (Credit: Max Pixel, Pixabay)

A handful of markets are primed to boom thanks to the combination of strong economic growth and a nationwide shortage of housing construction.

Identified through a data analysis by Local Market Monitor, the top 10 markets ranked most likely to experience a boom are already seeing home prices rise, but the key indicator is how those increases compare to the prices local incomes would typically dictate. Once that figure reaches 15 percent or higher, a boom becomes more and more likely, according to analysts.

What qualifies as a boom? Forbes contributor and Local Market Monitor president Ingo Wizner defines a boom as prices increasing between 10 to 15 percent per year. Wizner recommends investors looking to cash in on booms buy single-family homes, which can be flipped more easily than multifamily buildings, and that investors prepare to sell before the market peaks in order to ensure a slow sale doesn’t scuttle returns when the boom ends.

Here’s a look at the 10 housing markets the analysis predicts will boom in the next three years, starting with the city Wizner says is already booming, Denver, CO. [Forbes]Erin Hudson

1. Denver

(Credit: Max Pixel)

2. Miami

(Credit: Pixabay)

3. Riverside-San Bernardino, CA

(Credit: Qwerty510/Wikimedia Commons)

4. San Francisco

(Credit: heyengel/Shutterstock)

5. Fort Collins, CO

(Credit: David Shankbone)

6. Tampa-St. Petersburg, FL

(Credit: Max Pixel)

7. Seattle

(Credit: Flickr Maëlick)

8. Charleston, SC

(Credit: Lee Keadle)

9. Los Angeles

(Credit: Pixabay)

10. Boulder, CO

(Credit: Hustvedt)


Related Articles

arrow_forward_ios
(Illustration by Dave Murray)

The squeeze on resi brokerages is forcing consolidation, cooperation

Localize.city president Steve Kalifowitz (Credit: iStock)

Rental listing prices jump on hundreds of apartments during broker fee ban: report

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home (Credit: iStock)

One quarter of Americans don’t even know their mortgage rate

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

arrow_forward_ios
Loading...