With the widespread shift to working from home, many Americans began to look for new homes with more space. Add to that historic lows on interest rates and you have yourself a booming housing market. Growing most quickly are cities that have decent amenities and a growing number of jobs. As more home buyers enter the market, large coastal metropolises are no longer the center of the real-estate world. If you’re looking to buy or sell a home, there are several cities with real estate markets forecasted to grow this year.
Denver, Colorado
Nestled in the mountains, Mile High City has seen a rapid influx in residents in the last 5 years. With the economic conditions of 2021, it doesn’t look like this growth is slowing any time soon! The legalization of cannabis has been a boon for the state, and the connected industries have brought thousands of jobs. Considering this, along with sunny weather and proximity to amazing outdoor spaces and it’s no surprise this market is booming. Though sellers are still offering home inspections, many buyers are forgoing this step in an effort to close quickly and beat out other offers. It is an extremely competitive sector, so if you’re considering selling this may be the time to do so.
Nashville, Tennessee
Nashville has all the makings of an attractive real estate market. It has long been a home for some of the best live music venues in the country, and now has a growing culinary scene to keep the young professionals satisfied. Hot chicken anyone? Because of this, there is significantly more demand for houses than there are houses for sale. Good homes (and sometimes just ok homes) do not stay on the market long. However, if you’re a veteran or a veteran spouse, looking into Tennessee VA loans could help give you a leg up on the competition.
Phoenix, Arizona
More than any city on this list, Phoenix is still really an up-and-coming housing list. There’s a reason the city made our list of best places to start a business: It’s still fairly affordable and there is quite a bit of land that is as yet undeveloped. It will not stay this way much longer though, as demand for houses continues to grow. If you act quickly and have a great agent, there’s still a chance for you. Just make sure that your new place has a good air conditioning unit because, in the Arizona summer, you’re going to need it.
Austin, Texas
The self-proclaimed weirdest city in Texas is a decidedly un-weird place to buy a home right now. Bustling nightlife, funky culture, and a great live music scene have made Austin a place that everyone wants to be. In fact, with multiple tech companies moving their factories to the area, it’s one of the hottest real estate markets in the country. And, with a good amount of undeveloped land in the surrounding areas, the Austin suburbs are about to take off as well. If you’re looking to buy your forever home or a vacation home, you don’t want to wait much longer. The prices are only going up from here!
Whether you are buying or selling, the housing market is moving fast all across the country. Each of these cities on this list is growing exponentially, as thousands of people move away from the coasts looking for more bang for their buck. If these trends hold (and they look like they will) investors would be hard-pressed to find better cities in which to put down their money than the 4 above.
