Real Estate 2016: Where to Invest in America
After several years of falling on hard times, the American real estate market is alive and well. With the housing market rebounding across the nation, along with increases in new construction and commercial real estate sales, there are many great deals awaiting investors in 2016. While there are ample opportunities for investors to get a great return on their investment, some areas offer stronger opportunities than others.
Tucson, AZ With 33 percent of all sales in Tucson being cash sales so far in 2015, it’s clear Tucson has a high level of investor activity. Investors have been busy buying up single-family homes,
townhomes, and condos and turning them into rental properties, creating more and more chances for renters who have flooded the area in recent years. Still having an abundance of foreclosure property, Tucson is ranked as the top investment market of 2016 due to its ability to be both a vacation destination as well as a college town. Kansas City, MO The heart of the Midwest is also a great place to invest real estate dollars in 2016. With the median list price for homes now approaching $135,000, investors are looking at KC as a strong investment area for the coming year. While housing prices have increased by four percent over the past year, housing inventory is down 21 percent, indicating investors should not waste time once 2016 arrives. Baltimore, MD Considered an East Coast gem for real estate investments, Baltimore is full of older, historic homes that are priced for the serious investor. Median list prices have increased more than three percent from last year, currently averaging almost $240,000. Investors see this market as having great potential in 2016, with houses being bought and then converted to office space for use by doctors, lawyers, and other professionals. Fort Worth, TX Everything is said to be bigger and better in Texas, and judging by the Fort Worth real estate market, that statement is very true. With very low unemployment, the area is becoming very popular with young professionals. As a result, home sales are moving at a pace that’s 20 times faster than last year, indicating 2016 will be an excellent year for investors looking to buy residential properties. As 2016 approaches, real estate investing in America is poised to be the best year yet for those looking to invest in a piece of the American dream. Roman Temkin works as a real estate developer in NYC.