Real estate investors should look South and Southwest for the best returns over the next five years
Real estate investors should look South and Southwest for the best returns over the next five years.
That’s according to an analysis by NeighborhoodScout which predicts that 4 out of the top 5 metros for rising home prices through 2022 are in those regions.
The sharpest rise is forecast to be the the McAllen-Edinburg-Mission, TX Metro Area with a 38% increase over the next 5 years. Healthy population growth, very strong housing stock and vacancy rates that have stayed in check are all contributing factors to this predicted growth.
Perhaps even more important, however, is the steady increase in wages and job growth, which are both in line with the rest of the country," said Dr. Andrew Schiller, CEO and founder of Location, Inc. and NeighborhoodScout.
"These trends bode well for McAllen-Edinburg-Mission, TX Metro Area residents, and particularly home buyers: Although just below the region's historic high, it only takes a little over two years of average household income to buy an average house in this Metro."
Other metros set to bring strong returns on investment are the Las Vegas-Henderson-Paradise, NV Metro Area which is set to rise 35%; and the Phoenix-Mesa-Scottsdale, AZ Metro Area, with a predicted 27% rise.
That’s according to an analysis by NeighborhoodScout which predicts that 4 out of the top 5 metros for rising home prices through 2022 are in those regions.
The sharpest rise is forecast to be the the McAllen-Edinburg-Mission, TX Metro Area with a 38% increase over the next 5 years. Healthy population growth, very strong housing stock and vacancy rates that have stayed in check are all contributing factors to this predicted growth.
Perhaps even more important, however, is the steady increase in wages and job growth, which are both in line with the rest of the country," said Dr. Andrew Schiller, CEO and founder of Location, Inc. and NeighborhoodScout.
"These trends bode well for McAllen-Edinburg-Mission, TX Metro Area residents, and particularly home buyers: Although just below the region's historic high, it only takes a little over two years of average household income to buy an average house in this Metro."
Other metros set to bring strong returns on investment are the Las Vegas-Henderson-Paradise, NV Metro Area which is set to rise 35%; and the Phoenix-Mesa-Scottsdale, AZ Metro Area, with a predicted 27% rise.
