Wednesday, May 4, 2016
Report: Charlotte is a hot spot for residential real estate investment
Charlotte remains one of the nation's top markets for real estate investors, according to a new HomeVestors ranking published this week.
Dallas-based HomeVestors, a house-buying franchise, partnered with Cary-based Local Market Monitor to compile its quarterly report on top markets for real estate investing, identifying areas of the country that will have strong rental markets and where home prices are likely to rise over the next few years. The firms looked at which areas had a population growth rate above average, a current job growth rate of at least 2% and a low unemployment rate.
The Charlotte-Gastonia-Concord region ranked No. 6 in the firms' "Best Markets Top Ten List for Real Estate Investing for First Quarter 2016," which is up two spots from the fourth quarter of 2015. Atlanta landed at No. 5.
"Good job growth is driving prices higher in our markets, mainly in business services but also tourism (Orlando, San Antonio), finance (Charlotte, Dallas) and manufacturing (Grand Rapids),” said Ingo Winzer, president and founder of Local Market Monitor.
However, the report predicts that some of the top markets in states like Texas, Florida and California will be over-priced in a year and could present risk of a "boom and bust" in the future.