Investors are focusing on buying real estate in Denver and Colorado Springs, which are the top 10 housing markets according to Forbes. Forbes suggests that following the investors may be a good idea for home buyers. These cities are predicted to be among the best in the country for a dramatic turnaround in home prices.
Our exclusive buyers’ agents have a similar analysis. They show that this is the best time to buy since the mid 90’s because of the low home prices and the pressure placed on sellers. Exclusive buyers agents also show that because of low mortgage rates, buying a home is more affordable than ever.
Investors are looking for cities where home prices have dropped, but that have signs of improvement over the next few years. Signs like an increase in the population before the recession began, job growth, and the mix of jobs in the area.
A mix of jobs is important because if the city depends solely on one industry, especially if it is a volatile one (like investing or construction), it is likely to be hit especially hard during the economic downturn.
Forbes List of America’s Best Housing Markets for Investors
1. Raleigh-Cary, North Carolina
2. McAllen-Edinburg-Mission, Texas
3. Austin-Round Rock, Texas
4. Nashville-Davidson-Murfreesboro-Franklin, Tennessee
5. San Antonia, Texas
6. Colorado Springs, Colorado
7. Albuquerque, New Mexico
8. Denver-Aurora-Broomfield, Colorado
9. Springfield, Missouri
10. Indianapolis-Carmel, Indiana
The list was compiled by Local Market Monitor, a real estate research firm. The list is based on predictions of job growth, population changes, and where home prices have reached the bottom.
Denver Metro has a healthy mix of industries.
The 2010 Economic Profile for Metro Denver shows a healthy job mix of Fortune 500 companies representing the telecommunications, internet services, packaging and aerospace, real estate, engineering, healthcare, and beverage production.
Plus, Denver and Colorado are working to become even more attractive to businesses, and is already considered a “Top 3 State for Business.”
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