Emerging Housing Markets - Where Are They
Sunday, November 18
become clear there are signs that the housing market may be in a tentative
rebound. However, we’re far from out of the swamp, and indications of
turnaround are uneven at best. With the devastation wrought by Hurricane Sandy,
housing bullishness has taken a backseat to repairing and investor prudence.
That being said, certain regions in the U.S. are showing positive signs of a
turnaround. Here are some fast emerging U.S. housing markets:
Las Vegas: There’s been ongoing buzz that America’s Sin City may actually be a sensible place to consider investing in real estate. A recent report from California publication The Sacramento Bee claims that market signs point towards Las Vegas as a respectable choice for investors. Steadily climbing housing prices have apparently leveled off, with the median property value holding steady for the second month in a row. Not only are October 2012 home pries up from the same month last year, but home sales are as well. Sales closings show signs of gentle but ongoing increase, with sales up 10% in October from the month prior. For the keen investor, you’d be well advised to consider Las Vegas metro property.
Greater New Hampshire: Far and away from the warmer climate of Nevada, sources are emerging claiming the New Hampshire market is revealing positive market trends as well. According to a recent story from The Keene Sentinel, the median price for single-family homes in the Granite State this October was 11.6% greater than it was in October 2011. Monthly unit sales have increased month-over-month for all this year, with the statewide sale of houses in October greater than 25% the total sales in the same month last year.
North Dakota: While far and away from the more trendy but volatile housing markets of New York, San Francisco, or Chicago, North Dakota is apparently experiencing its own minor housing boom. New reporting from the Wall Street Journal shows that the region’s surging energy industry, in combination with turnaround signs in the housing market, are motivating a powerful form of local recovery. Of newest notice is an oil project in Williston, ND, which is expected to draw thousands of workers and their families in the next few months. Projections indicate that the region’s population may more than double within the next decade. Not only have new homes in the regions (and in greater North Dakota) begun popping up at a record pace, but land speculators have been quick to follow the demographic and market trends and scope out the best tracts for acquisition.
So whether you’re a property investor or a prospective homebuyer, there’s much to be gained from looking beyond the major metros towards promising investments. And for new homebuyers who are considering closing on a home, I suggest reviewing the advice and guidance offered at the Ryan Homes blog.