So we all know how fabulous Texas is and what a great place it is to live but now it’s official.
A recent report called Where to Invest in Housing in 2017 not only saw our very own state top of the list, but it also boasts the second most spots overall with Dallas, Fort Worth and San Antonio all making the top 20.
Forbes teamed up with Local Market Monitor, a North Carolina-based company that tracks more than 300 housing markets, to conduct the research. As well analysing housing indicators Local Market Monitor CEO Ingo Winzer, also looked at broader growth trends, including employment levels.
The positive results stem largely from the fact that the recession and housing crisis didn’t hit here quite as hard as other states across the country, so we recovered quickly and strongly.
Job growth is also looking good – which is good news for everyone.
“If you are planning on making an investment, either by buying a home or by buying a rental property, these are really good markets,” said Winzer.
“These are markets where you can make an investment, you are probably going to get a good return and you are not taking an extraordinary risk.”
Dallas has an average home price of $233,000. That’s up 3.9% from a year ago and underpriced by 3% compared to the city’s historic average. Local Market Monitor forecasts prices will increase 31% by 2020 thanks in part to 3.9% job growth in the past year and 6.2% population growth in the last three.
Home prices gained 9% in Fort Worth last year. Job growth was 2.3%. The population in the second of three Texas markets to make the list grew 5.2% from 2012 to 2015.
The population of San Antonio grew 6.5% from 2012 to 2015. Last year home prices gained 7% and jobs growth was 1.7%. Homes here are 7% under-valued.
But while it’s great news for the area, with the potential of new investment, the increase in demand will no doubt push the prices up across the whole state. So if you’re looking to buy then you might be best to act sooner rather than later.
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