March 11, 2016
The real estate industry emerged more than ever last year and the trend is predicted to see a rise in 2016 as well. With several investment laws changing the prices of global industry getting stable this year, there has been almost no effect to the real estate industry and it looks like this year holds several interesting prospects.
Unemployment rate has been dropping in the United States and with income growth rising together with solid home value appreciation, the real estate market is determined to grow more strong this year. Here are the 5 emerging real estate markets in 2016.
1. Grand Rapids/Wyoming, MI
The 14th most affordable city to live in the United States, Grand-Rapids is also called a river city and has the 22nd strongest job growth in the entire nation. With Fulton Streets Farmers market present and running since 1922, the city is also the most emerging market in 2016 and has a lot of shopping markets. The city is rich in its culture and has plethora of natural beauty that adds it to the list of a must-watch real estate this year.
2. Charleston, SC
Charleston, SC is another city with growing businesses and industries in the country. Possessing a job growth rate that is sixth highest in the entire nation, the city has low affordability and vacancy rates, which does not affect the real estate industry much. Best known for its restaurants and dining, the city also has several places nominated for the James Beard Awards in 2015 making it a popular food-destination for tourist.
3. Austin, TX
Texas has always been one of the best places for businesses to grow. With several top giants like Apple, Samsung, Dell, IBM, among others all established in the city, Texas holds several opportunities for millennials to grow. Austin, among other places in the state is where the population density is the highest which adds more opportunities for housing and real estate industry. Also, houses for sale in Round Rock has been growing at a much higher rate than at any other places in the state, thereby making it a must-watch real estate market in 2016.
4. Baton Rouge, LA
A sprawling Southern California city with the country’s television and film industry, Los Angeles is the home to Hollywood sign, Universal, Warner Bros and several other studios. Best known for the theater culture, Baton Rouge reflects the culture and architecture of LA and has several museums and theaters. The place is being developed like never before with growing business trends on property management, making it the fourth hottest real estate market to watch this year.
5. San Antonio, TX
San Antonio is another city in the list of the emerging real estate markets to watch in 2016. Considering the boost the city had among all metropolitan areas in the country in between 2010 and 2013, San Antonio is also one of the finest travel destinations in the country and is a good place to live in. With affordable real estate and housing costs in the city, the real estate market is a growing business as it comes with several business opportunities.
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