HomeVestors and Local Market Monitor Issue Industry Report on Top Ten Cities for Real Estate Investment
Grand Rapids, Michigan Tops List; Housing Market Experiences More Demand Than Supply
DALLAS - January 12, 2016 - (BUSINESS WIRE) - HomeVestors, the We Buy Ugly Houses® people, and Local Market Monitor, the premier real estate forecasting solution, today published the Best Markets Top Ten List for Real Estate Investing in the last quarter of 2015. The data is ranked based on cities with increased job opportunities in the past year. The overall national average increase was 1.9 percent.
Grand Rapids, Michigan topped the Best Markets Top Ten List, with Orlando, Florida coming in second. Texas cities remain strong, with San Antonio third, Dallas fourth and Austin fifth.
“Due to a shortage of home construction since the recession, local housing markets with a strong economy will experience more demand than supply in the next few years,” said Ingo Winzer, president and founder of Local Market Monitor. “This will create higher priced homes and rising rents.”
“In 2015, prices in all of the top ten housing markets have increased by at least six percent,” said David Hicks, HomeVestors co-president. “Prices will continue to rise, which is one of the reasons HomeVestors, the We Buy Ugly Houses® people, continues to become an excellent option for independent investors.”
The remainder of the list includes Portland, Oregon sixth; Seattle, Washington seventh; Charlotte, North Carolina eighth; Salt Lake City, Utah ninth; and Fort Lauderdale, Florida tenth. While housing prices continue to increase, cities such as Portland and Seattle present an opportunity for investors because of their increase in income due to the expansion of high-value industries.
The fourth-quarter 2015 Best Markets Top 10 List for Real Estate Investing includes:
- Grand Rapids, Michigan
- Orlando, Florida
- San Antonio, Texas
- Dallas, Texas
- Austin, Texas
- Portland, Oregon
- Seattle, Washington
- Charlotte, North Carolina
- Salt Lake City, Utah
- Fort Lauderdale, Florida
About the Quarterly Data
The data identifies markets that will be good rental markets and where home prices are likely to rise at an increased rate over the next few years. Criteria include markets where:
- the population has been growing at above-average rates (four percent or better) with growth coming from people moving there in search of jobs;
- the current rate of job growth of two percent 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 do not 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 65,000 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 2015, for the tenth 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 2015, HomeVestors was recognized as the 19th fastest growing franchise by Entrepreneur Magazine and number 127 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.
SOURCE HomeVestors of America, Inc.
For HomeVestors of America, Inc.