The real estate industry is one of the biggest industries in the United States. Currently, this industry is seeing a large increase in activity in many areas throughout the nation. This is largely due to the fact that interest rates on mortgage loans are fairly low right now. It is also significantly due to the fact a lot of people are spending more time at home now.
There are many areas in the nation that are experiencing what is considered a seller’s market. These markets are the ones that typically have more potential buyers than houses listed for sale. Other areas are seeing what is considered a buyer’s market. These markets are the ones in which there are less potential buyers than homes listed for sale. Some areas, although not many, are seeing a balanced market.
Phoenix/Scottsdale, Arizona
The Phoenix, Arizona market, which also includes the popular city of Scottsdale, is one of the hottest markets in the real estate industry. This area offers residents beautiful weather almost year-round and is ideal for people who live active lifestyles.
You will find some incredible real estate for sale in Scottsdale, Arizona, with options ranging from beautiful condos in popular subdivisions to spacious luxury homes in peaceful areas.
The job market is another draw to this area. There are literally hundreds of job opportunities from many large companies. Amazon, Intel, Wells Fargo, and Banner Health are some of the largest employers in the Phoenix metropolitan area.
The inventory of housing is another reason people are investing in the Phoenix and Scottsdale area. The median housing price in Phoenix is around $275,000 and is around $475,000 in Scottsdale. The inventory of houses in the valley is considered low. This shortage of houses is allowing property values to steadily rise.
Investors also like this area due to the property laws that allow short term rentals. Airbnb rentals, short term leases, and other rental options are allowed in the Phoenix and Scottsdale areas. This is a great feature as the area is a well-known hotspot for spring break vacationers and other travelers who need short term accommodations.
Nashville, Tennessee
Nashville, Tennessee is another city that is a great place for real estate investments. Nashville is currently seeing a boom in construction in the housing market. It is also experiencing an influx in businesses that are looking for a centrally located site with fairly temperate weather year long. Nissan, Vanderbuilt, and St. Thomas Hospital are among the top employers in this beautiful city.
The inventory of housing options is another great reason to invest in Nashville. The inventory includes a wide range of housing styles to meet any household’s needs and budget. These properties range from historical plantations to modern, newly constructed, condominiums.
The median house price in Nashville is currently around $375,000. The median rental price in this city ranges from around $1,200 to $1,400 per month.
Charlotte, North Carolina
Charlotte, North Carolina is another awesome southern city that is a great place for real estate investments. Charlotte offers its residents a high stand of living in a business-friendly environment. The area has a lot of opportunity for growth and the population is warm and friendly.
There are lots of exciting things to do and places to explore. Some of these places, such as the NASCAR Hall Of Fame, also represent the largest employers in the area.
The housing market offers prospective buyers a variety of housing options to choose from. Single family residences of various sizes make up the majority of the housing inventory. However, there are also condominiums, townhouses, patio homes, and other architectural options to choose from. The median housing price in Charlotte is currently around $340,000. The most popular neighborhoods include Eastover, Uptown Charlotte, and The South End.
Tampa, Florida
Tampa, Florida is another great southern city to purchase residential properties. Tampa is located near the middle of Florida’s western coastline. The weather, ambiance, and variety of entertainment options are among the many reasons why Tampa is a popular city. There are also dozens of job opportunities located here. Tech Data, Jabil, WellCare Health Plans, SYKES, and Publix Supermarkets are some of the top employers for Tampa’s residents.
The housing market is another draw for many people to the Tampa, Florida area. The inventory of houses include small single family residences, luxurious estates, modern condominiums, and tons of waterfront residences. Residential properties range from around $150,000 up to over $10,000,000. The median price, however, is around $312,000. Short term rentals, as well as long term leases, are also acceptable in Tampa. The median rental price is around $1,225 per month.
Boise, Idaho
Boise, Idaho is one of the most popular northern cities for people to invest in real estate. It is one of the most affordable cities in the nation. Prices for homes range from under $100,000 up to over $1,000,000. The median price, however, is around $475,000. Rental properties are also allowed here and are fairly common. The median rental price in Boise is currently around $1500 per month.
The area of Boise, Idaho is great for active individuals who enjoy experiencing all four seasons. There are tons of exciting things to do in the city, both indoors and outside. Dozens of museums, art galleries, and other exhibits make for great learning opportunities. The Boise River Greenbelt is another popular destination for many people who enjoy walking, skating, biking, and other outdoor activities.
There is tons of room for growth, both in housing and in employment opportunities, in Boise too. There are dozens of employers in the city and plans for more to move to the area in the near future. Some of the biggest employers currently include Albertsons. Micron Technology, St. Luke’s Health Systems, and HP Inc.
Final Thoughts
Cities that offer higher standards of living for less money than California and New York are seeing an increase in population and job opportunities. Many of these cities are located in areas that offer hospitable living conditions.
The Phoenix and Scottsdale areas, located in Arizona, are among the hottest real estate markets in the nation. Nashville, Tampa, and Charlotte are also popular cities located in the southern region of the nation. Boise, Idaho is one of the most popular northern cities.
