Has all the family bonding this holiday season left you thinking you might need a little distance? If a move is on your horizon (for whatever reason), you’re in luck. Trulia’s Housing Economist Ralph McLaughlin compiled his list of 10 hot real estate markets to watch in 2016. - See more at: http://www.trulia.com/blog/10-hot-real-estate-markets-to-watch-in-2016/#sthash.xEUOOwnx.dpuf
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10 Hot Real Estate Markets To Watch In 2016
Has all the family bonding this holiday season left you thinking you might need a little distance? If a move is on your horizon (for whatever reason), you’re in luck. Trulia’sHousing Economist Ralph McLaughlin compiled his list of 10 hot real estate markets to watch in 2016. Each city was examined for affordability and strong job growth, plus other factors including vacancy rates, to determine which areas are contenders for growth in the year ahead
Why does this river city top the list for 2016? Well, Grand Rapids hits the sweet spot in terms of affordability and job growth; it ranks as the 14th-most affordable in the U.S. and 22nd-strongest in job growth over the past year.
The Charleston, SC real estate market is hot (and we’re not talking about the summertime temps!) — no doubt in part due to its ranking as the sixth-highest for job growth in the U.S. Its lower rank for affordability and vacancy rates drops it back to number two on this list.
Pretty much anyone would be happy living in the live-music capital of the world, but Austin, TX real estate also ranks third on Trulia’slist because of its popularity with
Millennialsand booming job growth. From barbecue joints to food trucks to craft cocktails, the capital city of Texas has the dining scene on lock too.
Another capital city, Baton Rouge, LA, is rich with culture and architecture, from its quaint trolley system in the Garden District to the buzz of energy that emanates from Louisiana State University, which calls the city home.
The stars aren’t the only things big and bright in Texas — the Lone Star State is one of two states to have double entries on the 2016 hot markets list. Maybe it’s the beautiful Riverwalk or its bike-friendly appeal, but the city saw the biggest jump in millennials of all U.S. metropolitan areas between 2010 and 2013.
Craving some mountain air? This city at the foot of the Rocky Mountains is a paradise for outdoor enthusiasts and has been named a “distinctive destination” by the National Trust for Historic Preservation for its attractive architecture and commitment to historic preservation, sustainability, and revitalization. Plus, it sits at number 37 on the Forbes list of best places for business and careers.
“Famously Hot” Columbia is home to six colleges, including the University of South Carolina, plus several major hospitals — and affordable housing prices. The state capital is also home to Fort Jackson, the largest military training center in the country.
The Inland Empire is home to a rich architectural history where Spanish Colonial Revival can be found mingling with Victorian styles. But if you’re thinking of moving here, you will appreciate most what Rob Murray, broker-owner of Murray Real Estate in Riverside, says: “We’ve seen quite a few first-time homebuyers, so the market is strong here for affordable properties.”
Sure, the Strip is what we all think of first, but there’s more to Las Vegas than gambling and nightlife — such as access to some of the best places to explore the great outdoors. But the clincher for this big little town just might come from the U.S. Bureau of Labor Statistics, which expects Las Vegas to experience 4.8% job growth in 2016, crushing the national prediction of less than 2%.
On the banks of the Puget Sound, Tacoma is rich with outdoor activities and an arts district that celebrates the region’s world-renowned glass art (culminating in the Chihuly Bridge of Glass). But the port city is also an affordable place to live, making it an attractive destination for young professionals and families in the Pacific Northwest.
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