Top 10 Healthiest Real Estate Markets for 2013
Healthiest Real Estate Markets for 2013
The housing market this year is showing a lot of promise as home prices rise 4.9% nationwide. Based on the median rent and sale prices nationwide, here is a look at the cities that display the best health in the nations real estate market.
Offering affordable housing and strong job growth, this city is projected to be the strongest of all real estate markets nationwide. With a 3% rise in job growth and 3.6% vacancy rate, the median home selling price is $80,312. This represents a 23% decline compared to the prior quarter.
San Francisco, California
With a growth of a third since 2012 due to tech jobs, this city has seen a small 1.7% vacancy rate and a 3.4% rate in job growth. With a median sale price of $747,000, the housing market has increased 24% from a year ago.
The job growth in this city was the first in 10 months that showed the highest rates in the US while maintaining the nation’s lowest vacancy rates. At a 2.8% job growth and 1.2% vacancy rate, the median sale price for a home here is $402,000. Compared to a year ago, the sale price has increased by a half percent.
San Antonio, Texas
Barely affected by the housing crisis, the median asking price per square foot for a home was less than nearly two thirds of the nation’s largest real estate markets. With a job growth of 2.7% and a vacancy rate of 2.8%, the median sale price here is $79,001. Compared to just a year ago, the housing market in San Antonio has increased 3.7%.
With an increase in industries such as technology, education, healthcare, and construction, the regions 3.5% job growth was the third largest in all metro areas. Carrying a low vacancy rate of just 1.2%, the median home price here is $128,190. Compared to last year, the housing market has seen a 1.3% increase.
During the housing crisis, homes here saw prices fall more than any of this year’s other top markets at a rate of 26%. With a current 11% increase and growth in construction, the overall market job growth sits at 3.1% with a vacancy rate of 2.4%. A median home sale price of $350,000 shows an 11.1% increase from last year’s prices.
Maintaining an unemployment rate of 3.9%, this city has been able to retain its strong economy while seeing growth. At a current 2.5% job growth and 3.3% vacancy rate, the current median home sale price of $138,000 has fallen 20.5% compared to last year.
The strong job growth and affordable housing has made this area one of the most desirable to live in for single family homes. With a 2.5% job growth and 3.3% vacancy rate, the median home sale price here is just $264,500 compared to last year showing a 7.4% market increase.
Fort Worth, Texas
This city has seen job growth at a 2.6% increase overall and nearly 10% increase with the mining, logging, and construction industries. Offering jobs in education and health services, the two largest non-government sectors growing by nearly 6%, Fort Worth has been deemed one of the most affordable cities for young professionals to live in. Holding a vacancy rate of 3%, the median home sale price here is $82,000 with a 1.5% increase from last year.
With current strong growth existing in manufacturing, to include its automobile industry, Louisville has seen a 2.7% job growth increase and a 3.6% vacancy rate. With the median home sale price at $133,384, this area has seen a 4.2% housing price increase from the previous year.
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