After years of unprecedented growth, the real estate market is finally cooling down across much of the country. However, there are still a few hotbeds of real estate that are as hot as ever. Thriving economies and high quality of life are just a few of the factors that are keeping these markets flourishing. Here are four of the hottest real estate markets in America:
Over 700,000 people call the Boise-Nampa metropolitan area home. The city has grown exponentially over the last decade as West Coast dwellers seek to escape the high cost of living of cities in California and Seattle. An emerging tech industry keeps propelling Boise’s real estate market forward as people look to relocate to the city for its plentiful job opportunities, open space, and small-town vibe.
Colorado Springs, CO
Colorado Springs has been rated as the second-best place to live in the U.S. As such, it is no wonder that the real estate market continues to feature a high demand and low inventory structure. Home prices in Colorado Springs continue to appreciate at a higher rate than the national average. A strong local economy combined with a high quality of life is expected to buoy the market forward.
Las Vegas, NV
Although Las Vegas was hit especially hard during the 2008 recession, the city has bounced back in a big way. A lack of state income tax combined with lower than average mortgage rates has kept Sin City at the top of their real estate game. The city’s low housing costs make it a haven for retirees while a booming tech industry continues to attract millennials looking for a place to lay down their roots.
While there are many Florida cities that are still at the top of real estate lists, none are as hot as Jacksonville. As the state’s most populous city, Jacksonville has great potential to continue growing at breakneck speed. This opportunity for growth is fueling the interest of real estate investors looking to make money in this fertile city. With a fast-growing economy and predictive data pointing toward continued population growth, it is not a surprise that the housing market remains strong despite a national downturn.
If you are wanting to squeeze the most out of the real estate market, it is important to choose the most favorable destination. All four of these cities show promise for continued growth and prosperity.