There are ten hot markets for buying that might surprise you, and if you are thinking about buying, you should give these markets some serious consideration.
Inman News recently took a comprehensive look at market performance across the nation. They worked with other research firms to compile a series of reports on residential real estate. One of the featured sections was a report—produced by RealtyTrac. It spotlighted their ‘picks’ for the “Top 10 U.S. Markets for Buying and Investing in 2011.”
The RealtyTrac methodology reviewed the nation’s largest 100 metropolitan statistical areas. Analysts filtered out the top 25 cities based on 10 key performance metrics. The cities which showed up most frequently in multiple categories– made the final cut. The defining categories included foreclosure rates, unemployment rates, and average sales prices, among other variables. For complete methodology details click on the link below.
According to the report, the “Top 10 markets for buying and investing in 2011” are:
- Akron, OH
- Rochester, NY
- Buffalo, NY
- Cleveland, OH
- Portland, ME
- Milwaukee, WI
- San Jose, CA
- Memphis, TN
- San Diego, CA
- Durham, NC
There are comparable “Top 10 reports” with different outcomes. It’s important to review ranking criteria, methodology and timeframe when comparing lists. The Inman News compilation was posted Friday, March 11, 2011. Consult with real estate professionals for answers that fit your objectives and your needs.