Housing demand will rise in 2015 as millennials decide to jump into the housing market and mortgage rates stay historically low.
However, the market is likely to tell a different story than last year’s rapid home price growth and is finally starting to stabilize.
According to a Forbes article, there are still plenty of places where housing should be a pretty safe bet.
The key is to buy in cities with strong job growth that people are moving to, so that the stock of potential tenants for would-be landlords is abundant. We teamed up with Local Market Monitor, a North Carolina-based data company that tracks home prices and economic factors in more than 300 housing markets, to find 2015’s Best Buy Cities—the top 20 housing markets to invest in this year.
The list contains cities where opportunities are increasing, in addition to their populations.
Here’s a preview of the third top place to invest in 2015:
- Population: 6,313,158
- Avg. Home Price: $214, 049
- Pop Growth (’10-’13): 6.2%
- Jobs Growth (annual): 4.1%
- Unemployment: 4.9%
Houston continues to thrive thanks to its strong energy market and household growth over the past few years.
According CoreLogic’s 2015 Housing Outlook, “As of October 2014, the Houston metro area had experienced more residential construction than all but two states, which is a reflection of the city's very strong in-migration and employment growth. While the energy producing sector will be hurt by lower investments due to lower oil prices, Houston is enjoying a demographic dividend that will sustain it.”