Turning around the downturn
Looking past the headlines about the housing market crash and now, recovery, boils down to asking one real question: where has the real estate and land development market recovered for renters and buyers and where hasn’t it?
Trulia set out to answer that and the results are unexpected and fascinating.
And to the skeptics out there, to ensure a thorough response to the investigation, Trulia included job growth, job prospects, wages, vacancy rates, home values or how much rent has increased into their considerations.
So, without any further ado, here’s the breakdown:
Just as it has since 2012, North Carolina tops the list for both renters and buyers. And if you’re in the market, we have a stunning land buying opportunity in the Blue Ridge Mountains, check it out here.
Also, San Francisco, Houston, Denver and Seattle are strong cities for buyers and renters. They boast a stable job market and have enjoyed continued wage growth, which helps offset the rising cost of renting. Patten Companies property, Texas Grand Ranch is just north of the downtown Houston area. Homesites have been selling faster than they’ve been marked off. Land-buyers are seeing the benefit of moving out of the downtown traffic and into the serene lifestyle a community tucked next to a National forest and a beautiful big lake can offer.
But taking the cake, the No.1 spot for homeowners is West Palm Beach, Fla., and Anaheim, Calif. According to Trulia, since 2012, home values in WPB have been appreciating at nearly double the average, which is extremely encouraging since, as we know, Florida was among the hardest hit during The Great Recession.
When considering renting only, unsurprisingly, New Orleans, LA takes the top spot. If not the weather, then the unemployment rate is keeping this city struggling.
But, comparatively, Winston-Salem, NC is growing in all respects – jobs, wage, and vacancy rates.
So, bottom line, North Carolina and Houston are the places to live and patten companies offers incredible homesites that offer the quality lifestyle everyone deserves.