DALLAS--(BUSINESS WIRE)--Atlanta, Charlotte, Fort Lauderdale, Riverside (Calif.) and San Diego have been included among the 2015 Best Markets Top 10 List compiled quarterly by HomeVestors, the We Buy Ugly Houses® people, and Local Market Monitor, the premier real estate forecasting solution. The list evaluates and rates approximately 300 markets.
“Top markets” mean strong rental markets where home prices are likely to increase steadily over the next few years, resulting in better returns, since home bargains will be harder and harder to find. “The boom in snapping up foreclosed properties is pretty much over,” said Ingo Winzer, president and founder of Local Market Monitor.
“Our Top 10 list consists of growing markets where higher home prices already signal more demand than supply, and where renters are at least a third of the local population. With the exception of Atlanta, where bargains still exist, home prices are pretty much aligned with local income,” continued Winzer.
The third-quarter 2015 Best Markets Top 10 list includes:
- Orlando, Florida - the large and growing tourism industry provides plenty of lower-paying jobs.
- Dallas, Texas - growing rapidly, with lots of jobs in business services and finance; many renters despite fairly modest home prices.
- Riverside-San Bernardino, California - growing again after a big real estate recession.
- Seattle, Washington - high home prices give many renters little choice; economy is doing very well despite a moribund manufacturing sector.
- Austin, Texas - as with other Texas markets, not enough construction in the past decade; strong demand for rentals from government and university workers.
- Fort Lauderdale, Florida - renewed growth in a market with a large retirement population and service providers.
- Charlotte, North Carolina - the large banking and business services sectors provide ample medium-pay jobs; home prices are moderate but many prefer to rent.
- Atlanta, Georgia - recovery from the large number of sub-prime foreclosures has produced more renters; some bargains can still be found.
- San Diego, California - high (but not outrageous) home prices produce a large renter population; the large business services sector - with medium-pay jobs - provides growth.
- San Antonio, Texas - increased tourism boosts demand for rentals.
“These Top 10 markets demonstrate that real estate investment opportunity is widespread,” commented Ken Channell, HomeVestors® co-president. “There are locations with great potential from coast to coast, in the biggest markets and in smaller cities, if you evaluate carefully. For instance, while some people might assume any California real estate is completely overpriced, we see two Southern California markets that have exceptional values.”
HomeVestors® co-president David Hicks concurs, “Seattle and Charleston may not seem like they have much in common, but both have the job and population growth that will fuel rental demand. As the largest professional home buying franchise in America, our independently owned and operated franchisees run successful businesses in more than 44 states. They do it by combining solid real estate fundamental principles with current market intelligence, and we’re proud to say many of them are having banner years.”
About the Quarterly Data:
The data identifies markets that will be good rental markets and where home prices are likely to increase at a good rate over the next few years. Criteria include markets where:
- The population has been growing at above-average rates (4% or better) with growth coming from people moving there in search of jobs;
- The current rate of job growth of 2% or better; and
- There is low unemployment, so that new jobs will be filled by people who move there, not by unemployed people who are already there.
Markets are excluded that:
- Have a small population because they don’t have stable economies.
About HomeVestors of America, Inc.
Dallas-based HomeVestors of America, Inc. is the largest professional house buying franchise in the U.S., with more than 60,000 houses bought since 1996. HomeVestors® recruits, trains and supports its independently owned and operated franchisees that specialize in building businesses based on buying, rehabbing, selling and holding residential properties. Most commonly known as the "We Buy Ugly Houses®" company, HomeVestors strives to make a positive impact in each community. In 2014, for the ninth consecutive year, HomeVestors was among the prestigious Franchise Business Review's "Top 50 Franchises," a distinction awarded to franchisors with the highest level of franchisee satisfaction. In 2014 HomeVestors was recognized as the 25th fastest growing franchise by Entrepreneur Magazine and number 126 in the Franchise 500 by Entrepreneur Magazine. For more information, visit www.HomeVestors.com.
About Local Market Monitor
Local Market Monitor, the premier real estate forecasting solution, offers investors in homes and home mortgages the local market risk intelligence they need to make informed decisions. Using a proprietary formula called the Equilibrium Home Price, Local Market Monitor determines if markets are currently over or under valued, equipping users with a long-term risk and investment perspective. Covering over 300 local markets, Local Market Monitor also presents key investors with a 12, 24 and 36-month home price forecast. The solution includes sorting capabilities allowing subscribers to view and compare real estate markets along various metrics, including an Investment Suitability Ratings to identify opportunities based on individual investing goals. To learn more, visit www.localmarketmonitor.com or call 800-881-8653.