Norada Real Estate Investments

Colorado Springs Housing Market: Prices & Forecast 2023

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Welcome to an overview of the real estate market in Colorado Springs, CO. The real estate market in Colorado Springs, CO remains vibrant and competitive. The median listing home price has seen a consistent upward trend, reflecting the area's desirability for homeowners. Additionally, the market is currently favorable for sellers, with homes selling at or close to the asking price.

Median Listing Home Price and Sales Trends

This analysis is based on data sourced from realtor.com®, providing valuable insights into the housing market trends. In August 2023, the median listing home price in Colorado Springs, CO was $489K, showing a 2.9% year-over-year increase. Additionally, the median listing home price per square foot was $220. The median home sold price stood at $437K.

Median days on market: 34 Days

Sale-to-List Price Ratio and Market Dynamics

The sale-to-list price ratio in Colorado Springs, CO was 100% in August 2023, indicating that homes were typically sold for the asking price on average. Colorado Springs, CO is currently experiencing a seller's market, where there are more buyers than available homes.

Market Activity Over Time

The chart below illustrates the median listing home price versus the median home sold price over the past few years, indicating the growth and stability in the market.

Colorado Springs – County Market Report

Colorado Springs is in El Paso County, Colorado. It is the most populous city in El Paso County, with a population of 478,961 at the 2020 United States Census. Colorado Springs is the second-most populous city and the most extensive city in the state of Colorado, and the 40th-most populous city in the United States. It is the principal city of the Colorado Springs metropolitan area and the second-most prominent city of the Front Range Urban Corridor.

The El Paso County housing market, like many others, has experienced its share of fluctuations and transformations over the years. As of the latest report from the Colorado Association of REALTORS®, the data paints a vivid picture of how the market has evolved in terms of key metrics. In this section, we delve into the insights provided by the El Paso County Housing Market Report for August, offering a comprehensive understanding of the trends that have shaped the local real estate landscape.

Single Family Residential Market Metrics

New Listings: In August 2023, there were 1,157 new listings, showing a 25.0% decrease compared to August 2022. Year-to-date figures indicate 9,034 new listings, a 29.1% reduction from the same period in 2022.

Sold Listings: The number of sold listings in August 2023 was 885, marking a 24.1% decrease compared to August 2022. Year-to-date data shows 7,188 sold listings, reflecting a 25.7% reduction from the previous year.

Median Sales Price: The median sales price in August 2023 was $480,000, representing a 2.0% decrease from August 2022. The year-to-date median sales price was $474,000, indicating a 1.9% decline from the same period in 2022.

Average Sales Price: August 2023 saw an average sales price of $558,606, showing a 2.8% increase from the previous year. However, the year-to-date average sales price decreased by 1.7% to $538,633 compared to the same period in 2022.

Percent of List Price Received: The percentage of list price received in August 2023 was 99.4%, a slight decrease from 99.7% in August 2022. For the year-to-date period, there was a more noticeable decrease to 99.5% from 102.3% in the previous year.

Days on Market Until Sale: The average days on market until sale increased significantly in August 2023, reaching 28 days, a 64.7% increase from August 2022. The year-to-date data shows 35 days, a significant 191.7% increase compared to the same period in the previous year.

Inventory of Homes for Sale: The inventory of homes for sale in August 2023 was 2,062, representing a 23.1% decrease from August 2022.

Months Supply of Inventory: The months supply of inventory increased slightly to 2.3 months in August 2023, showing a 9.5% increase compared to the previous year.

Colorado Springs Housing Market Forecast 2023-2024

What are the Colorado Springs real estate market predictions? The Colorado Springs housing market, like many others, is subject to a range of factors that can influence its trajectory. Whether you're a potential buyer, seller, or investor, understanding market forecasts is essential for making informed decisions.

We'll dive into the latest insights and predictions for the Colorado Springs housing market, drawing from data and forecasts provided by sources like Zillow.

Current Housing Market Data (Data through August 31, 2023)

  • Average Home Value: The average home value in Colorado Springs is $447,343, reflecting a 4.6% decrease over the past year.
  • Days to Pending: Properties typically go pending in around 11 days, indicating a swift sales process.
  • Market Competitiveness: The median sale to list ratio is 1.000, illustrating a balanced market where properties are often selling at or close to the listed price.
  • Percent of Sales Over and Under List Price: Approximately 35.8% of the sales were above the listed price, while 36.6% were below the listed price.

Colorado Springs MSA Housing Market Forecast

The housing market forecast for the Colorado Springs Metropolitan Statistical Area (MSA) predicts the following changes in home values based on data up to August 31, 2023:

  • By 30-09-2023: A forecasted increase of 0.4%.
  • By 30-11-2023: A forecasted increase of 0.9%.
  • By 31-08-2024: A forecasted increase of 4.4%.

This forecast indicates a positive trajectory for the housing market in the Colorado Springs MSA, with a predicted steady increase in home values over the coming year.

Understanding the current market data and predictions for the near future is essential for potential buyers, sellers, and investors in making informed decisions within the Colorado Springs housing market.

Colorado Springs Housing Market Forecast 2023-2024
Source: Zillow

Colorado Springs Real Estate Investment: Should You Invest?

Is Colorado Springs a Good Place For Real Estate Investment? Many real estate investors have asked themselves if buying a property in Colorado Springs is a good investment. You need to drill deeper into local trends if you want to know what the market holds for real estate investors and buyers. Let’s talk a bit about the Colorado Springs area before we discuss what lies ahead for investors and homebuyers. The Colorado Springs real estate market gets overlooked in favor of bigger markets like Denver.

However, Colorado Springs has several things in its favor for residents and real estate investors alike. Colorado Springs sits on the eastern side of the Rocky Mountains. Colorado Springs contains nearly half a million people. The Colorado Springs metropolitan area is home to around seven hundred thousand people. The Colorado Springs area is seeing continual, rather fast growth. Colorado Springs real estate has continued to appreciate faster than most of the markets in the US.

Conditions in the Colorado Springs real estate market seem to be in a sustainable, upward direction and show no signs of slowing down. Inventory is low and prices are increasing at a steady pace. The local economy is strong and mortgage rates remain low. Colorado Springs's real estate appreciation rate in the latest quarter was around 3.02%, which equates to an annual appreciation rate of 12.63%. You can either choose to invest in your future or market your home to potential buyers.

If you are looking to make a profit, you don’t want to buy the most expensive property on the Colorado Springs real estate market and expect to make a good profit on rents. Perhaps you are looking for a slightly different hold-over, an investment property in Colorado Springs that you might move into or sell at retirement in the future. Either way, knowing your profit potential and purpose is the first thing to consider. Let’s take a look at the number of positive things going on in the Colorado Springs real estate market which can help investors who are keen to buy an investment property in this city.

Colorado Springs is a Rental Market

Many people know that the Air Force Academy is located in Colorado Springs. However, the student market in Colorado Springs is both larger and more diversified than the military student population. The University of Colorado Springs hosts over twelve thousand students. Colorado College, Colorado Technical College, Remington College, Colorado Christian University, and the University of the Rockies are also located here. This provides a large, diverse student market that rents properties across the Colorado Springs real estate market.

U.S. News and World Report magazine discusses the large retiree community in Colorado Springs. The area’s abundant recreational opportunities and proximity to military services like commissaries and VA facilities explain why more than 10% of the population is retired – many of them military veterans and their families. Peterson Air Force Base sits on the eastern edge of town.

For Airbnb's attractability and business building, there are two huge military bases with Air Force, Naval Academy. Fort Carson, an Army base, is located within the city limits. The infamous Cheyenne Mountain is located just to the west of town. A side benefit of this diverse military market is that the Colorado Springs real estate market enjoys a large, permanent population of renters but without the wild swings that come with the rise and fall of a single military base’s fortunes.

Latest Rental Trends in Colorado Springs, CO – September 2023

As of September 2023, the average rent for a 1-bedroom apartment in Colorado Springs is $1,155, which represents a 4% decrease compared to the previous year. Moreover, in the past month, the average rent for a studio apartment decreased by 3% to $1,014, while the average rent for a 2-bedroom apartment remained flat.

Occupancy Status

The occupancy distribution in Colorado Springs is as follows:

  • Renter-occupied Households: 40%
  • Owner-occupied Households: 60%

This distribution provides an insight into the housing landscape and the prevalent occupancy preferences in the city.

Affordable and Expensive Neighborhoods

The rental rates in various neighborhoods indicate the following:

Most Affordable Neighborhoods:

  • Shooks Run: Average rent around $1,050/month
  • Downtown Colorado Springs: Average rent around $1,250/month
  • Briargate: Average rent around $1,665/month

Most Expensive Neighborhoods:

  • Briargate: Average rent around $1,665/month
  • Downtown Colorado Springs: Average rent around $1,250/month
  • Shooks Run: Average rent around $1,050/month

This information allows individuals to make informed decisions based on their budget and preferences when choosing a neighborhood to reside in.

Popular Neighborhoods

The most popular neighborhoods in Colorado Springs based on listing numbers are:

  • Old Colorado City: 190 listings
  • Memorial Park: 129 listings
  • Broadmoor: 112 listings

According to RENTCafe, 36% of the households in Colorado Springs, CO are renter-occupied. The average size for a Colorado Springs, CO apartment is 837 square feet with studio apartments being the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer more generous square footage. 48% of the apartment can be rented in the price range of $1,001-$1,500 while 36% fall in the price range of $701-$1,000.

The most expensive Colorado Springs neighborhoods to rent apartments in are Briargate, Northgate, and Central Colorado City. The cheapest Colorado Springs neighborhoods to rent apartments in are East Colorado Springs, Southeast Colorado Springs, and Northeast Colorado Springs.

The Landlord Friendly Market Compared to the Rest of the West

Colorado is almost as landlord-friendly as Arizona and Texas, but it is far more landlord-friendly than Nebraska, Kansas, or any West Coast state. Colorado allows you to quickly evict tenants who don’t pay their rent. Once you give them a demand for compliance, they have 72 hours to either pay up or move out. If that 3 day period expires and you go to court, the courts typically side with the landlord. After that ruling, the tenants have 48 hours to leave, and then local law enforcement will enforce the eviction order. Another major point in its favor is that you’re not required to get tenants a 24-hour notice before you visit the property.

Short-Term Rental Investment Opportunities

A city that’s within a stone’s throw of Pike’s Peak and the rest of the Rocky Mountains is going to attract tourists. Garden of the Gods is a very famous public park located in Colorado Springs. It was designated as a National Natural Landmark in 1971. It features stunning geological formations, rock climbing, nature trails, and the Garden of the Gods Visitor & Nature Center. Another major attraction is the US Olympic Training Center, located in Colorado Springs. Colorado Springs allows properties to be rented out on a short-term basis, but you must have a short-term rental permit and collect the appropriate taxes.

Colorado Springs’ regulations on short-term rentals are not as stringent, though, as those in nearby “tourist” towns like Breckenridge. Colorado Springs is a very Airbnb-friendly city. You can convert your property into an Airbnb vacation rental and rent it out to vacationers and tourists on a short-term rental basis. Owning a house near the Gardens of the Gods Park can prove to be a goldmine in building up your Airbnb rental business. For setting up an Airbnb business, there are lots of outdoor attractions, 3 hospitals, the Broadmoor hotel (historic hotel on a lake), 2 cute downtown streets with restaurants (downtown and colorado city), 90mins from Denver, and 2 hours from skiing in Breckenridge.

Their airport offers direct flights to many cities via Frontier & United. You can also co-host clients in Colorado Springs through profit sharing with landlords. You can charge landlords a start-up fee and 20% commission for co-hosting (finding clients and getting the property Airbnb ready). The controversial Airbnb ordinance was passed in November 2018 by the Colorado Springs City Council. Under the ordinance, property owners must apply for a license, pay taxes, and obey neighborhood rules. This came into effect on January 1st, 2019.

Colorado Springs' Strong Job Growth & Demographics Momentum

The Colorado Springs area boasted an unemployment rate of around 3% in 2018, more than a full percentage point less than the national average. People move here for work and the lower cost of living compared to more expensive Front Range cities. Industry sectors hiring people include hospitality and professional and technical services. The latter category is driven by defense contractors in the area.

Despite the very large population over the age of 65, Colorado Springs managed to have a median age of 34, several years below the national average. The tight labor market is drawing people to the area and keeping college graduates in the vicinity. This guarantees demographic momentum as young people stay here to buy homes and raise their own families, fueling demand for the Colorado Springs real estate market.

Colorado prides itself on cultivating high-tech jobs like California without the over-crowding or insane housing prices. Yet this has made the Denver housing market unaffordable for many people who work there. One solution for many is living in Colorado Springs and commuting an hour or more each way to work. Another solution that’s more readily available in Colorado than elsewhere is telecommuting.

Realtors in the Colorado Springs housing market are finding people buying houses even on the south side so they can find a property they can afford, then driving in one or two days a week to Denver. Conversely, the high price of a property in Denver is driving many businesses to move or expand south into the Front Range, bringing Denver’s jobs closer to the Colorado Springs housing market.

Steady Property Appreciation Forecast

Population growth in Colorado Springs has been just ahead of new home construction; housing permits in the Colorado Springs real estate market, for example, are not yet back at 2005 levels. This helps to explain why home prices have risen more than 40% in the past five years, though it is one of the most active housing markets in the country. This is partial because Millennials are the biggest group buying houses today, and the Colorado Springs real estate market is already loaded with them.

Millennials prioritize homes in walkable areas with access to public transit, but they value practical, usable homes oversize. This means well-designed condos and duplexes in the right areas are as attractive to them as a large house in the suburbs. However, the limited supply of homes on the market in Colorado Springs is keeping prices increasing faster than the rate of inflation. Ironically, the near-total lack of homes with negative equity in the Colorado Springs housing market has been considered one reason why prices are going up so fast.

Colorado Real Estate Investment Opportunities

Maybe you have done a bit of real estate investing in Colorado but want to take things further and make it into more than a hobby on the side. The Colorado Springs real estate market contains several large populations of renters, many practical reasons for people to move here from the surrounding area and across the country, and long-term factors that will drive growth for years to come. Forget the Mile High City and invest in the Colorado Springs real estate market.

Good cash flow from Colorado Springs investment properties means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding a good Colorado Springs real estate investment opportunity would be key to your success.

The three most important factors when buying real estate anywhere are location, location, and location. The location creates desirability. Desirability brings demand. There should be a natural and upcoming high demand for rental properties. Demand would raise the price of your Colorado Springs investment real estate and you should be able to flip it for a lump sum profit.

The neighborhoods in Colorado Springs must be safe to live in and should have a low crime rate. The neighborhoods should be close to basic amenities, public services, schools, and shopping malls. As with any real estate purchase, act wisely. Evaluate the specifics of the Colorado Springs housing market at the time you intend to purchase.

Some of the popular neighborhoods in Colorado Springs are Broadmoor, Old Farm, Colorado Centre, Kissing Camels, Downtown Colorado Springs, Falcon Heights, Cordera, Wolf Ranch, Rockrimmon, Old Colorado City, Fountain Valley, Old North End, Pikes Peak Park, Briargate and Flying Horse Ranch.

Here are the ten neighborhoods in Colorado Springs having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com.

  1. Fort Carson Southwest
  2. Fort Carson
  3. Fort Carson South
  4. Fort Carson West
  5. Fort Carson Northwest
  6. Spring Creek
  7. Old Colorado City
  8. Lowell
  9. Patty Jewett South
  10. Southeast Colorado Springs

Apart from the Colorado Springs housing market, you can also invest in Denver. Of greater importance to real estate investors in Denver is that the area is growing in population. The jobs are increasing and so are the number of renters. It is the largest and capital city of Colorado, home to roughly 700,000 people. The Denver metropolitan area is home to around 2.7 million people. The population has increased by 1.33% from 2019. The Denver-Aurora, Colorado statistical area is home to about three and a half million people.

It has a low unemployment rate of 2.3% as of Dec 2019, according to the U.S. Bureau of Labor Statistics. A third of the population of the Denver metro area rents. All these are excellent signs of investors looking to buy a rental property in Denver. Despite the recent cooling off, there are several reasons to consider a long-term investment in the Denver real estate market. Shortage of housing for a growing population, a strong economy & increasing jobs have been fueling the demand in the Denver housing market for the past many years.

The Boulder real estate market also puts you in reach of a great job market. The colleges foster high-tech startups. That keeps many college grads here after they finish school while attracting students in the first place. However, it is the offices of Big Tech firms like Google and Microsoft that are more attractive.

The Boulder housing market has also been bolstered by the presence of multiple government agencies like the National Center for Atmospheric Research and the National Institute of Standards and Technology. This makes Boulder a good place to start a scientific or technical career, especially if your goal is research. It also creates high-tech jobs almost immune to the state of the economy. And that's aside from the strong job market in Denver down the highway.

The Fort Collins area is another great market to invest in real estate. The area is growing both as an outer suburb of Denver and for its reasons, making it the fourth-largest city in the state. The city offers an ideal mix of jobs, affordable living, and a decent quality of life that will keep it strong for years to come. Fort Collins and several other cities on the Front Range hit the top ten list due to factors like relatively low cost of real estate in the Fort Collins housing market, high education levels, low taxes, and strong business incentives.

Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.

NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Colorado Springs, Colorado.

Consult with one of the investment counselors who can help build you a custom portfolio of Colorado Springs turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Colorado Springs.

Not just limited to Colorado Springs or Colorado but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Colorado Springs turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.

Let us know which real estate markets in the United States you consider best for real estate investing! 

Please do not make any real estate or financial decisions based solely on the information found within this article. Some of the information contained in this article was pulled from third-party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US. This article aimed to educate investors who are keen to invest in Colorado Springs real estate. Purchasing an investment property requires a lot of study, planning, and budgeting. Not all deals are solid investments. We always recommend doing your research and taking the help of a real estate investment counselor.

REFERENCES

Market Prices, Trends & Forecasts
https://www.coloradorealtors.com/
https://www.coloradorealtors.com/market-trends/regional-and-statewide-statistics/
https://www.zillow.com/ColoradoSprings-co/home-values
https://www.neighborhoodscout.com/co/colorado-springs/real-estate/
https://www.realtor.com/research/hottest-zip-codes-2021/
https://www.realtor.com/realestateandhomes-search/Colorado-Springs_CO/overview
https://greatcoloradohomes.com/colorado-springs-real-estate-market-statistics.php
https://www.propertymanagementincoloradosprings.com/colorado-springs-local-market-statistics

Rental Statistics
https://www.rentcafe.com/blog/renting/states-best-worst-laws-renters
https://morrisinvest.com/blog/2016/12/21/5-most-landlord-friendly-states
http://www.landlordstation.com/blog/top-landlord-friendly-states
https://www.zumper.com/rent-research/colorado-springs-co

Reasons to Invest in Colorado Springs
https://www.uccs.edu
https://en.wikipedia.org/wiki/Colorado_Springs,_Colorado
https://realestate.usnews.com/places/colorado/colorado-springs
https://www.military.com/base-guide/colorado-springs-military-bases
https://www.zeonamcintyre.com/blog/2018/1/26/airbnb-investing-trip-colorado-springs-edition
https://www.krdo.com/news/top-stories/airbnb-ordinance-passes-2nd-vote-by-colorado-springs-city-council/862178044
https://www.avalara.com/mylodgetax/en/blog/2018/10/colorado-springs-passes-new-airbnb-rules.html
http://www.cpr.org/news/story/move-over-denver-colorado-springs-might-have-the-hottest-housing-market

Naples Housing Market: Prices, Trends, Forecast 2023

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Naples is a beautiful coastal city located in the southwestern part of Florida. The Naples housing market has been experiencing some interesting trends in recent times. Although there has been a slight decrease in median sale prices, Naples remains an attractive location for homeowners. In this report, we'll take a closer look at the latest housing market data for Naples, including sales, prices, and supply trends, as well as provide a forecast for what we can expect in 2023.

Naples Housing Market: House Prices & Trends | Redfin

According to Redfin, in August 2023, the median sale price for homes in Naples showed a 3.1% increase compared to the previous year, amounting to $670,000. This signifies a positive trajectory in the Naples housing market, which is an essential factor for both buyers and sellers to consider.

The average time a property spends on the market has seen a slight increase, with homes now selling after 49 days on average. While this is an increase from the previous year's 30 days, it still indicates a relatively brisk pace in the Naples real estate market.

During August of the present year, 176 homes were sold, a slight dip from the 183 homes sold during the same period last year. This data provides insights into the demand and supply dynamics in the Naples housing market.

Competitiveness and Pricing

The Naples housing market is characterized as not very competitive according to Redfin's Compete Score™. Multiple offers on properties are rare, with homes selling for approximately 5% below list price on average and going pending in about 44 days.

Moreover, the sale-to-list price ratio for all home types in Naples is 95.3%, indicating a strong position for sellers in the market.

Naples Migration & Relocation Trends

When it comes to migration trends, Naples attracts a notable influx of individuals from various areas. Chicago, Miami, and New York are among the top cities from which people are relocating to Naples, reflecting the city's appeal.

On the other hand, Sarasota, Tampa, and Jacksonville are the preferred destinations for individuals leaving Naples, suggesting interesting shifts in migration patterns within Florida.

Thus, the Naples housing market presents a promising scenario for both buyers and sellers. With a 3.1% increase in median home prices compared to the previous year and a relatively fast sales pace, Naples continues to be an attractive destination for real estate investments. However, potential buyers should act swiftly due to the moderately competitive market and the tendency for homes to sell close to the list price.

Naples Housing Market Forecast 2023-2024

Naples, along with its neighboring areas of Immokalee and Marco Island, forms the Naples-Immokalee-Marco Island Metropolitan Statistical Area (MSA). This MSA boasts a vibrant housing market that has experienced notable trends and forecasts. Let us take a closer look at the current state of the market and its forecast for the near future.

Unraveling the current state and future projections of this market is essential for both potential buyers and sellers, and Zillow's comprehensive data offers valuable insights into average home values, market changes, and forthcoming forecasts. Let's delve into the specifics of the Naples-Immokalee-Marco Island housing market forecast for 2023.

The housing market in Naples-Immokalee-Marco Island has witnessed fluctuations in recent times. As of now, the average home value stands at $603,517, showing a 0.6% decrease over the past year. Homes typically go pending in around 37 days, indicating a moderate pace of sales. This data is up to August 31, 2023.

Market Forecast and Sales Data

  • 1-year Market Forecast (August 31, 2023): The market forecast for the coming year suggests a 6.5% increase in housing market activity.
  • Median Sale to List Ratio (July 31, 2023): The median sale to list ratio is 0.966, reflecting the relation between listing prices and actual sale prices.
  • Percent of Sales Over List Price (July 31, 2023): 7.7% of the sales were above the listed price, indicating a competitive market.
  • Percent of Sales Under List Price (July 31, 2023): Approximately 78.6% of the sales were below the listed price.
  • Median Days to Pending (August 31, 2023): The median days for a property to go pending is 37 days.

Assessing House Prices in Naples, Florida

Given the 0.6% decrease in average home value over the past year, there is a slight dip in house prices. However, it's important to consider the overall market forecast, which predicts a 6.5% increase in the market for the coming year. This suggests that the market might pick up and prices could stabilize or rise in the near future.

Is Naples a Good Place to Buy a House?

Considering the market dynamics and the upcoming 6.5% growth forecasted by Zillow, Naples presents potential opportunities for homebuyers. The median days to pending being 37 days indicates a balanced pace, offering buyers reasonable time to make decisions.

Naples Housing Market Forecast 2023-2024
Source: Zillow

Naples Real Estate Investment Overview

Naples, Florida, is a popular real estate investment destination due to its location, thriving economy, and desirable quality of life. The city has been experiencing steady growth in population and housing demand, making it an attractive market for real estate investors. In this section, we will discuss Naples real estate investment overview and seven reasons why investors should consider investing in this market.

Naples Real Estate Investment Overview

Naples is known for its upscale homes, beachfront properties, and high-end condominiums. The city offers a unique combination of natural beauty, excellent climate, and world-class amenities, making it an ideal place for people looking to invest in a vacation home or rental property. The city's real estate market has been growing steadily over the past few years, with prices continuing to rise due to strong demand and limited inventory.

In recent years, the Naples real estate market has experienced steady appreciation in property values, making it an attractive investment opportunity for both local and international investors. The city's high-end real estate market has been particularly strong, with luxury homes and condos selling at a premium. Additionally, Naples has a thriving vacation rental market, with many tourists flocking to the city's beaches and attractions throughout the year.

Top Reasons to Invest in Naples Real Estate:

  • Strong Rental Market: Naples is a popular vacation destination, which translates into a high demand for rental properties. Investors can enjoy high occupancy rates and attractive rental yields by investing in vacation homes or rental properties.
  • Growing Population: Naples has been experiencing steady population growth, making it an attractive market for real estate investors. As more people move to the city, demand for housing continues to rise, which can translate into higher property values.
  • Strong Economy: Naples has a thriving economy, with a diverse range of industries, including tourism, healthcare, and construction. The city's economy is expected to continue to grow, which can translate into higher property values over time.
  • Desirable Location: Naples is located in Southwest Florida, offering easy access to some of the state's most popular attractions, including the Everglades, Sanibel Island, and Marco Island. The city's desirable location makes it an attractive place to live, work, and vacation.
  • High-Quality Lifestyle: Naples is known for its high-quality lifestyle, with world-class amenities, including top-rated restaurants, shopping centers, and cultural attractions. The city's desirable lifestyle is a significant draw for both local and international real estate investors.
  • Limited Inventory: The Naples real estate market has limited inventory, particularly in the luxury home and condo segments. Limited inventory can translate into higher property values over time.
  • Stable Real Estate Market: Naples has a stable real estate market, with steady appreciation in property values over the past few years. The city's real estate market has been relatively resilient to economic downturns, making it an attractive investment opportunity for long-term investors.

While there are many advantages to investing in Naples real estate, there are also a few drawbacks to consider. One of the most significant drawbacks is the high cost of entry, particularly in the luxury home and condo segments. Additionally, property taxes and insurance rates in Naples can be relatively high compared to other Florida cities. Finally, investing in vacation rental properties can be challenging, particularly given the city's strict zoning laws and regulations.

In conclusion, the Naples real estate market offers many opportunities for investors looking to capitalize on the city's growing population, strong economy, and high-quality lifestyle. While there are some drawbacks to consider, the overall market conditions and long-term appreciation potential make Naples an attractive investment destination. Investors should conduct their due diligence and work with experienced real estate professionals to navigate the local market successfully.

Florida is a great place to invest in real estate with several affordable and growing markets. While there are investment opportunities in the Florida housing market, major metros are some of the most popular choices, like Jacksonville, Orlando, Miami, St. Petersburg, and Tampa. Another market that we suggest is the housing market in Lakeland, Florida. The Lakeland housing market presents the perfect balance of currently affordable real estate for buyers and future growth. We can expect the population of the area to grow rapidly, and the renting population will grow even faster. The time to buy real estate in Lakeland is now.

While the Lakeland FL real estate market is cheaper than Orlando and Tampa, it is not a good overall value given the lower average wages of its residents. That explains why U.S. News and World Report gave the city an index score of 5.5 out of ten. This is due to the average resident earning around $23,000 a year, several thousand less than the U.S. average. Median household incomes are no better.

You can also invest in another hot market in Ocala, Florida. Ocala is an affordable real estate market for investors who can still reap a decent return on investment. The area has recovered from the Great Recession, and several factors will insulate it from a future downturn. The Ocala housing market is buoyed by several near-recession-proof industries.

It is quite affordable for investors compared to the rest of Florida markets like Tampa where the median home value is $221,500. The median home price in Ocala in 2018 was around $150,000. You can buy several homes in the Ocala FL real estate market for the price you would of one mid-market condo in the Miami real estate market.

The Tampa real estate market has been seeing constant development for the last two years, a trend that does not seem to be stopping any time soon. The real estate in Tampa Florida has been estimated to grow rapidly during 2020. Investors are recommended to buy properties now and hold on to them until good price appreciation for maximum return on investment.

Tampa has the headquarters of four Fortune 500 companies which makes it a moderately attractive city for work and economic growth. In addition to this, many entrepreneurs and small businesses are also making their way to Tampa in search of better prospects and lesser expenses for running their start-ups. Acquiring residential spaces is one of the earliest priorities for such professionals when they move here.

Tampa, FL has a very diverse economy with financial services, STEM, health care, research, education, tourism, beaches, and military bases all making significant contributions to jobs and growth. These factors make the Tampa housing market a hot destination for real estate investors in 2019.

NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Naples.

Consult with one of the investment counselors who can help build you a custom portfolio of Naples turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Naples.

Not just limited to Naples or Florida but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.

Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.

Let us know which real estate markets in the United States you consider best for real estate investing!

Remember, caveat emptor still applies when buying a property anywhere. Some of the information contained in this article was pulled from third-party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.

Sources:

  • https://www.zillow.com/naples-fl/home-values
  • https://www.redfin.com/city/12171/FL/Naples/housing-market
  • https://www.neighborhoodscout.com/fl/naples/real-estate
  • https://www.realtor.com/realestateandhomes-search/Naples_FL/overview

Houston Housing Market: Prices, Forecast, News 2023

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The Houston housing market in June 2023 faced challenges with declining home sales, but it also exhibited positive signs of recovery. Showings and pending sales pointed towards possible improvements, and the luxury segment showed gains after a prolonged period of decline. However, concerns about the national economy and fluctuations in the real estate market continue to be a consideration for the future.

As the Houston real estate market adapts to changing economic conditions, it remains crucial for buyers, sellers, and real estate professionals to stay informed and navigate the market with prudence. In this blog post, we will delve into the recent press release from the Houston Association of Realtors and explore the key insights and trends.

Houston Housing Market Trends

The Houston housing market is displaying signs of stabilization as it gradually emerges from the impact of the pandemic and rising interest rates. Despite some negative indicators, the market is moving towards a more normal state. Let's explore the key trends in the Houston housing market for July 2023.

Decline in Sales with Positive Shift

The Greater Houston area witnessed a 16th straight month of home sales decline in July. However, the rate of decline was the smallest in over a year, indicating a positive shift. According to the Houston Association of Realtors’ (HAR) July 2023 Market Update, single-family home sales decreased by 8.5% year-over-year, with 7,557 units sold compared to 8,256 in July 2022.

Steady Stabilization

The months supply of homes increased to 3.2, reaching its highest level since May 2020. While sales declined by 15.3% compared to pre-pandemic July 2019, the sub-$100,000 housing segment experienced a gain. The market is steadily stabilizing, and consumers are cautiously navigating the homebuying process.

Pricing Trends

Single-family home prices are showing signs of stability. The average price saw a marginal increase of 0.6% to $428,140, while the median price fell by 2.3% to $340,000. These prices remain below the record highs seen in 2022.

July Monthly Market Comparison

July marked the 16th consecutive month of negative sales in the Houston market. Despite the 8.5% year-over-year decline in single-family home sales, this decline is the smallest since June 2022 when sales dropped by 7.6%.

Total property sales and total dollar volume also fell below the levels of the previous year. However, single-family pending sales showed a positive increase of 12.1%. The active listings were 13.2% higher than the previous year.

The months of inventory increased to 3.2 months, aligning with the trend observed nationally. A 3.1 months supply is reported in the national housing inventory, indicating a balanced market.

Single-Family Homes Update

The single-family home sales observed an 8.5% year-over-year decline, with 7,557 units sold. The average price slightly increased to $428,140, and the median price decreased to $340,000.

When compared to the pre-pandemic period of July 2019, the median price in July 2023 was 36.0% higher, and the average price was 37.3% higher. However, the sales volume remains 5.7% lower than in July 2018.

Days on Market increased to 42 days, and the months of inventory expanded to 3.2 months.

The breakdown of sales by housing segment for July is as follows:

  • $1 – $99,999: increased 6.5%
  • $100,000 – $149,999: decreased 7.2%
  • $150,000 – $249,999: decreased 6.1%
  • $250,000 – $499,999: decreased 11.8%
  • $500,000 – $999,999: decreased 8.3%
  • $1M and above: decreased 2.6%

Townhouse/Condominium Update

Townhouses and condominiums experienced a 9.8% year-over-year decline in July. The average price increased to $263,876, while the median price decreased to $220,000.

Compared to pre-pandemic July 2019, townhome and condominium sales were down 14.6%. The average price during this period was 23.0% lower, and the median price was 25.9% lower.

These trends show that the  Houston housing market in July 2023 showcases a market in transition. Despite a 16th straight month of declining sales, the rate of decline is showing signs of moderation. Stabilizing prices and growing inventory are positive indicators of the market's journey toward normalcy. As the market navigates through challenges, the Houston Association of Realtors continues to provide valuable insights into the evolving real estate landscape.

Houston Housing Market Forecast 2023-2024

Looking at the current statistics, what are the Houston real estate market predictions? NeighborhoodScout.com's data also shows that Houston real estate appreciated by nearly 98.71% over the last ten years. Its annual appreciation rate has been averaging 7.11%. This figure puts it in the top 30% nationally for real estate appreciation.

Let us examine the price trends recorded by Zillow over the past few years. The Houston housing market has been a topic of interest and discussion, particularly as it navigates the post-pandemic landscape. As of July 31, 2023, the average home value in the Houston-The Woodlands-Sugar Land area stands at $304,175. This figure represents a slight 0.7% decrease over the past year, according to data provided by Zillow. In addition to home values, several key indicators offer insights into the current state and future forecast of the Houston housing market.

Current Market Snapshot

  • Median Sale-to-List Ratio (June 30, 2023): 0.992
  • Percent of Sales Over List Price (June 30, 2023): 25.6%
  • Percent of Sales Under List Price (June 30, 2023): 53.7%
  • Median Days to Pending (July 31, 2023): 14

These metrics provide valuable insights into the current dynamics of the Houston housing market. The median sale-to-list ratio of 0.992 suggests that, on average, homes are being sold very close to their list prices, indicating a relatively balanced market.

Furthermore, the percentages of sales over and under list price, 25.6% and 53.7% respectively, showcase a diverse range of pricing strategies among sellers. This suggests that while some sellers are achieving prices above their list prices, a significant portion of transactions is occurring below the list price, highlighting the importance of strategic pricing and negotiation.

With a median of 14 days to pending, homes in the Houston area are moving relatively quickly once they are listed for sale. This indicates a level of demand that contributes to a dynamic market environment.

Market Forecast: Looking Ahead

One of the key questions on the minds of prospective buyers and sellers is the forecast for the Houston housing market. Zillow's 1-year Market Forecast as of July 31, 2023, predicts a growth of 4.6% over the next year. This forecast suggests a potential rebound from the slight decline observed over the past year, reflecting optimism in the market's ability to recover and grow.

Assessing Pricing Trends

Given the slight decrease in average home values over the past year, questions about home prices and their trajectory are natural. The data indicates that home prices have experienced a modest correction. However, the 4.6% projected growth in the market forecast indicates that prices may trend upwards over the next year. It's important to note that housing market conditions can vary widely based on factors such as location, property type, and economic trends.

Buyer's or Seller's Market?

Whether Houston is a buyer's or seller's market is a question that impacts both prospective buyers and sellers. The current metrics suggest a relatively balanced market, with homes selling close to their list prices. The percentages of sales over and under list price indicate that there is room for negotiation and varying pricing strategies, allowing both buyers and sellers to navigate the market effectively.

Timing and Opportunities

The question of whether it's a good time to buy a house in Houston depends on individual circumstances and long-term goals. The projected growth in the market forecast suggests potential opportunities for buyers who are looking to invest in a home. However, it's important for buyers to conduct thorough research, consider their financial situation, and work with experienced real estate professionals to make informed decisions.

In conclusion, the Houston housing market is exhibiting a balance between buyer and seller dynamics. While the past year saw a slight decrease in home values, the future forecast suggests potential growth. This, combined with the variety of pricing strategies and relatively quick pending times, offers opportunities for both buyers and sellers. To make the best decisions, individuals should assess their goals, gather market insights, and seek guidance from experts in the field.

Houston Housing Market Forecast
Source: Zillow

Houston Real Estate Market Statistics (Previous Year)

The Houston real estate market in 2022 saw record-high average and median prices, but also declining sales, particularly due to a lack of inventory and rising mortgage rates. June had the year’s strongest sales volume with 9,844 single-family units sold. Despite this, new listings gave a boost to inventory levels, which hit a high of 2.8 months in October and November.

In total, 95,113 single-family homes were sold in 2022, representing a 10.9% decrease from the previous year, while the average and median prices increased by 10% and 12.8%, respectively. According to HAR’s December/Full-Year 2022 Housing Market Update, single-family home sales fell 10.9 percent to 95,113.

Sales of all property types totaled 117,572, down 10.7 percent from 2021. Total dollar volume dropped just 2.0 percent to $45.6 billion versus $46.5 billion in 2021. The lease market remained strong as many prospective buyers opted to rent until they were ready to buy.

Houston Rental Market Trends

The Zumper Houston Metro Area Report analyzed active listings last month across the metro cities to show the most and least expensive cities and cities with the fastest growing rents. The Texas one bedroom median rent was $1,141 last month. Sugar Land was the most expensive cities with one bedroom priced at $1,490. Huntsville was the most affordable city with rent at $750.

The Fastest Growing Cities For Rents in Houston Metro Area (Year-Over-Year)

  • Huntsville had the fastest growing rent, up 25% since this time last year.
  • Galveston saw rent climb 18.5%, making it second.
  • Pearland was third with rent increasing 13.4%.

The Fastest Growing Cities For Rents in Houston Metro Area (Month-Over-Month)

  • League City experienced the largest monthly rent price growth rate, jumping 6%.
  • Conroe was second with rent climbing 3.5%.
  • Sugar Land ranked as third with rent growing 2.1%.
Houston Rental Market Trends
Credits: Zumper

As of July 2023, the average rent for a 1-bedroom apartment in Houston is currently $1,279. This is a 2% decrease compared to the previous year. Over the past month, the average rent for a studio apartment in Houston increased by 2% to $1,280. The average rent for a 1-bedroom apartment increased by 2% to $1,279, and the average rent for a 2-bedroom apartment remained flat.

  • Two-bedroom apartment rents average $1,545 (a 1% decrease from last year).
  • Three-bedroom apartment rents average $1,800 (a 4% decrease from last year).
  • Four-bedroom apartment rents average $2,025 (a 7% decrease from last year).

Some of the most affordable neighborhoods where the asking prices are below the average Houston rent:

  • East Little York, where the average rent goes for $870/month.
  • Greater Eastwood, where renters pay $850/mo on average.
  • Gulfton, where the average rent goes for $1160/mo.

Houston Real Estate Investment Outlook

Investing in Houston real estate can be a worthy investment due to a steady rate of appreciation. It’s only wise to think about how you can and should be investing your money. In any property investment, cash flow is gold. Should you consider Houston real estate investment?  Houston is a minimally walkable city in Harris County with a population of approximately 2,112,810 people. It is a diverse city with lots to offer that will cater to the tastes of a variety of potential buyers and tenants.

According to Neighborhoodscout.com, a real estate data provider, one and two-bedroom single-family detached homes are the most common housing units in Houston. Other types of housing that are prevalent in Houston include large apartment complexes, duplexes, rowhouses, and homes converted to apartments. Single-family homes account for about 45% of Houston's housing units.

Nearly 79,000 single-family detached homes were sold in the first 11 months of 2019, with year-to-date sales running 4.1 percent ahead of last year’s record volume. The total number of homes sold in the entire twelve months of 2018 was 82,229. Residential units, hotels, office buildings, and restaurants; the city is seeing continuous development projects that promise to keep the real estate market strong. Many of Houston’s neighborhoods are some of the most attractive places to live in the whole of Texas, and it’s not hard to see why.

With a great balance of urban regions and open spaces in the suburbs, the potential for development is clear to see, and the natural features of the land are some of the most attractive features you could hope for in an investment district. The Texas real estate market has been pretty quiet for a little under a decade now, but the real estate market in Houston has managed to remain relatively consistent while its surrounding areas have dragged their feet.

Houston has always been a hotbed of buyer activity; just ask the multitude of overseas investors who choose Houston as the city of their choice to invest in real estate. There was a time when Houston seemed immune to the highs and lows of housing cycles, but it now seems to have joined the pace of the national average.

But its rate of appreciation continues to be slightly above the national rate. With an extremely diversified economy and a huge demand for housing, Houston remains one of the top markets in the nation for real estate investing. Houston is one of the country’s top job creators, the home of America’s booming energy industry, is more diverse than New York City, and lets you stretch a paycheck farther than anywhere else in the country. Houston is also one of the hottest real estate markets in the nation.

Top Reasons To Invest In The Houston Real Estate Market
  • Houston is the #1 Market in the US for Job Creation.
  • Housing real estate is affordable.
  • 4th largest city in the US.
  • Its unemployment rate is far below the national level.
  • A paycheck goes farther in Houston than any other major metropolitan area.
  • Houston didn’t experience a housing bubble the way the rest of the country did.
  • It’s home to more Fortune 500 headquarters than anywhere in America except for New York.
  • It’s one of the centers of America’s booming oil and gas industry.
  • Massive international trade gives another big job boost to the rapidly growing city.
  • Houston is called Space City for a reason; it’s home to the NASA Astronaut Corps.
  • The New York Times calls it ‘one of the country’s most exciting places to eat.’
  • A spectacular range of ethnic cuisines, fantastic seafood, and great barbecue.
  • Ignore the Astros. The Texans, Rockets, and Dynamo are all winners.
  • It hosts the world’s largest concentration of health care organizations, with scientists working hard to beat cancer.
  • The city is filled with world-class and unique museums and cultural landmarks, like the Rothko Chapel.
  • The combination of The University of Houston and Rice University means there are a bunch of smart people around.
  • Houston recently passed New York to become the most ethnically and racially diverse city in the US.
  • And finally, it’s a great place for Southern hip hop!
  • There are approximately 1,196 schools in Houston, TX.
  • There are around 490 elementary schools, 256 middle schools, 178 high schools, and 272 private & charter schools.
  • To know more about Houston, read his blog – 17 Facts That Make Houston the Best City in America.

Houston Real Estate Market After Hurricane Harvey

Hurricane Harvey had some fascinating and somewhat surprising effects on the Houston Real Estate Market. Harvey’s devastating economic impacts have a silver lining for homebuyers in Houston. Houston's real estate market forecasts look promising after the hit the city took from Hurricane Harvey in 2017.

Big weather events hit many areas of the USA hard last year, and the costs of repairing the damage have been astronomical. But Houston has shown its trademark resilience, and 2018 is predicted to see real estate growth of 2.8% in the city, meaning now would be a good time to invest.

Hurricane Harvey tremendously impacted the real estate market in Houston, Texas. Houston had some of the largest swings in real estate value. So what were the economic ramifications of Hurricane Harvey on this delicate market? First, people have renewed interest in houses that were located in areas that did not flood.

This isn’t a particularly surprising statistic. Buyers now have confirmation that these areas can survive a catastrophic event and that they won’t be in any danger of damage. A recent trend, though, has been that homes in areas that were damaged by Hurricane Harvey have started to see a pick-up in sales.

Many houses that were damaged are being quickly sold to real estate investors. They saw an opportunity after Hurricane Harvey to buy damaged homes on the cheap in the Houston Real Estate Market. This has, in turn, led to Houston becoming a valuable “hot spot” for the real estate market in the US.

In October alone, 6,381 homes were sold in the Houston Real Estate Market, an increase of 7.5% over the same period last year. Agents are not only selling houses at a faster rate, but they are also commanding a higher price for their sales. Realtors are selling houses in Houston, Texas for over $7,000 or more than in previous years.

Perhaps the largest increase, though, has been in rental marketing. People whose houses Hurricane Harvey damaged have been looking to rent since the hurricane struck in late October. The rental market in Houston is approaching an all-time high. Investors are also intrigued by this statistic as it allows them to make money off of houses they may not be residing in at a given time.

This has further contributed to an increase in the housing market in Houston, Texas. The rental statistics for single-family homes and townhomes/condominiums are staggering. Single-family homes saw an increase of 83.6 percent over 365 days while townhomes and condominiums saw an increase of a mind-boggling 92.2 percent.

It is not surprising, then, that investors have flocked to the area with the idea of making a quick buck. As many have learned, the profit that could be acquired in this area is immense. The housing market in Houston is in an exciting new territory.

Although Harvey’s effects were devastating, the hurricane also contributed to the Houston housing market’s new rise after Harvey. Houston's inspiring efforts to come together and recover show the resilience of the people there and the city’s strength. The government’s quick response to the tragedy and their overwhelming desire to help the people exhibits the city’s importance on a national, and continental, scale.

Houston housing market remained in recovery mode in 2018 following devastating floods from Hurricane Harvey. People living in more expensive cities such as New York, Los Angeles, and San Francisco flocked to cheaper living cities such as Houston, Texas.

Many workers were fed up with the costs in these regions and were having difficulty surviving in areas with labor shortages, rising mortgage rates, and higher lumber costs. All these factors contributed to a significant upward trend in the Houston housing market in 2018.

Good cash flow from Houston investment properties means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding a good Houston real estate investment opportunity would be key to your success.

If you invest wisely in Houston real estate, you could secure your future. The best investment is now looking for a rental property that will generate good cash flow. Your best tenants would be the retirees who intend to relocate to Houston and want to purchase property to rent out.

The running costs for owning and managing a Houston rental property should not be high. While hiring a property management company you should expect to give up roughly ten percent of the rent for each property they manage. Remember to factor this loss into your calculations when budgeting for a new rental property.

The three most important factors when buying real estate anywhere are location, location, and location. The location creates desirability. Desirability brings demand. There should be a natural and upcoming high demand for rental properties. Demand would raise the price of your Houston investment property and you should be able to get a good return on your investment over the long term.

The neighborhoods in Houston must be safe to live in and should have a low crime rate. The neighborhoods should be close to basic amenities, public services, schools, and shopping malls. A cheaper neighborhood in Houston might not be the best place to live in.

A cheaper neighborhood should be determined by these factors – Overall Cost Of Living, Rent To Income Ratio, and Median Home Value To Income Ratio. Houston's real estate prices are well above average cost compared to national prices.

It depends on how much you are looking to spend and if you are wanting smaller investment properties or larger deals such as duplex and triplex in Class A neighborhoods. The inventory is low, but opportunities are there.

When looking for real estate investment opportunities in Houston or anywhere in the country, the generally accepted standard is to purchase a property that will give you a modest but minimum of 1% profit on your investment.

An example would be: at $120,000 mortgage or investment cost, $1200 per month rental. That would be the ideal equation for example. Even with rent increases, buying a $500,000 investment property in Houston is not going to get you $5000 per month on rent.

The asking price of single-family homes in Houston (on Realtor.com) can start from $29,000 and can go up to $29.5M for a luxury property located in the Westside neighborhood. You can find many new construction houses available for sale in Houston.

Neartown – Montrose has a median listing price of $639,000, making it the most expensive neighborhood in Houston. Alief is the most affordable neighborhood, with a median listing price of around $155,000.

Even as Houston's home prices have reached new heights, the market remains attractive to residential real estate investors. As they continue to compete for potential investment properties at the lower end of the market, the challenges for first-time homebuyers will remain.

The homebuyers won’t be able to outbid real estate investors and would end up renting. As with any real estate purchase, act wisely. Evaluate the specifics of the Houston housing market at the time you intend to purchase.

Here are the top 10 Highest Appreciating Houston Neighborhoods Since 2000 (List by Neighborhoodscout.com)

  1. Lawndale Wayside South
  2. Brittmoore Rd / Shadow Wood Dr
  3. Gulfton South
  4. Woodland Heights
  5. Greater Heights Southeast
  6. Greater Heights East
  7. Downtown Southeast
  8. Near Northside
  9. Second Ward East
  10. Greenway Upper Kirby Area West

Other Texas Real Estate Investment Markets

Apart from Houston, you can also invest in the housing market of Dallas, TX. If you have decided to invest in Dallas, you can either buy a fixer-upper or you may want to buy a Dallas investment property. This market offers a wide range of turnkey investment properties; you just have to find your tenants to rent out the property.

The next one is the San Antonio real estate market. For those who want to invest in rental real estate, the San Antonio real estate market is an ideal location because of its outsized military presence. Fort Sam Houston is located inside the city limits. Lackland Air Force Base, Randolph Air Force Base, Camp Bullis, and Camp Stanley are located in the immediate vicinity.

This means that there is a large population that will almost always rent because they don’t know where they’ll be sent on their next assignment. San Antonio has a dearth of affordable housing because demand is so much greater than supply. This has created a large number of renters who need to pay quite a bit to rent apartments or single-family homes. We know there is a lack of housing relative to demand when a balanced market has a 6 month home inventory and San Antonio has only a two-month inventory.

The Austin housing market is one hot place to invest in Texas. It isn’t the largest in the state of Texas, but there are several reasons to consider buying real estate in this city. The Austin real estate market has gained a lot of steam, with home values almost doubling since 2010. The Austin real estate market isn’t as big as Dallas, San Antonio, or Houston.

One of the long-term strengths of Austin is its diverse economy. The Austin real estate market dipped after the layoffs of the Dot-Com boom. They decided to solve the problem by encouraging medical and biotech employers to relocate to the area, too. There are around biotech and pharmaceutical companies in Austin. Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.

NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Houston.

Consult with one of the investment counselors who can help build you a custom portfolio of Houston turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Houston.

Not just limited to Houston or Texas but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Houston turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.

Let us know which real estate markets you consider best for real estate investing! 

This article shouldn't be used to make real estate or financial decisions. Some of this article's information came from referenced websites. Norada Real Estate Investments provides no express or implied claims, warranties, or guarantees that the material is accurate, reliable, or current. All information should be validated using the below references. Norada Real Estate Investments does not predict the future US housing market. This article educated investors on Houston real estate. Buying a rental property needs research, planning, and budgeting. Not all investments are good. Always do research and consult a real estate investment counselor.

REFERENCES:

Market Data, Trends, and Forecasts
https://www.har.com/content/mls
https://www.zillow.com/houston-tx/home-values
https://www.neighborhoodscout.com/tx/houston/real-estate
https://www.littlebighomes.com/real-estate-houston.html
https://www.realtor.com/realestateandhomes-search/Houston_TX/overview

Rental Statistics
https://www.rentcafe.com/average-rent-market-trends/us/tx/houston/
https://www.rentjungle.com/average-rent-in-houston-rent-trends/

Foreclosures
https://www.realtytrac.com/statsandtrends/foreclosuretrends/tx/harris-county/houston

Downtown Houston
https://www.downtownhouston.org/development

Houston After Hurricane Harvey
https://www.houstonproperties.com/hurricane-harvey-impact-houston-realestate
https://www.bizjournals.com/houston/news/2017/10/11/following-harvey-houston-sees-home-sales-rebound.html
http://www.chron.com/business/real-estate/article/Houston-real-estate-market-continues-post-Harvey-12341532.php
https://www.npr.org/2017/11/08/562903267/some-real-estate-investors-eager-to-buy-houston-homes-damaged-by-flooding

Las Vegas Real Estate Market: Prices, Trends, Forecast 2023

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The Las Vegas housing market has been through ups and downs over the past few years, with the pandemic having a significant impact on the market. The market is facing a mix of opportunities and challenges for both buyers and sellers. In this blog post, we'll discuss the housing market trends in Las Vegas based on the report released by Las Vegas Realtors.

Las Vegas Housing Market Update

Sales Volume Fluctuations

According to the report published by Summerlincommunities.com (Data by LVR), the month of June witnessed the sale of 2,293 single-family houses, indicating a slight decline of 1% from May's figures. However, compared to June 2022, this represents a more substantial drop of 14.1%. This fluctuation in sales volume highlights evolving buyer behavior and market dynamics.

Median Sales Price Movement

The median sales price of previously owned single-family homes demonstrated a marginal decrease from $442,100 in May to $440,990 in June, translating to a 0.3% drop over just one month. Moreover, when compared to June 2022, this median price is down by 8.1%. A year-by-year analysis showcases the market's resilience and adaptability:

  • June 2022: $480,000
  • June 2021: $395,000
  • June 2020: $325,000

These figures underscore the market's ongoing evolution and changing price dynamics.

Luxury Sales and Median Price Shifts

June 2023 recorded 114 homes sold for $1 million and above, marking a decrease of 18 homes from May's 132. This shift suggests a potential shift in high-end buyer preferences. Furthermore, the median sales price for the luxury market experienced a $20,000 decrease, dropping from $1,515,000 in May to $1,495,000 in June. These nuances within the luxury segment offer valuable insights into the broader market sentiment.

New Listings and Inventory

In June, the market witnessed a total of 2,617 new listings, reflecting a modest increase of 0.5% from May. However, compared to the previous year, this figure is down by a significant 44%. The decrease in new listings suggests that some sellers might be holding back, possibly due to favorable interest rates and other personal factors.

Limited Inventory and Buyer Preferences

At the close of June, the number of single-family houses listed without offers totaled 3,680. While this marks a 1% increase from the previous month, it is important to note that this figure is down by 36% from the prior year. This trend highlights an interesting dynamic: Sellers with advantageous interest rates are less inclined to sell unless necessitated by external factors. Buyers, in response to limited resale inventory, are increasingly exploring new construction options.

Housing Supply and Buyer Behavior

The housing supply in Southern Nevada, as indicated by months of inventory, stood at 1.6 months in June. While this reflects a 2% increase from May, it is noteworthy that it signifies a substantial decrease of 25.5% from the previous year. Additionally, a significant proportion of closings, 65.5%, occurred within 30 days or less. This data demonstrates the fast-paced nature of the current market compared to historical trends.

Mortgage Interest Rates and Builder Offers

As of July 6, 2023, the 30-year fixed-rate mortgage sat at 7.2% according to the S&P/Case-Shiller U.S. National Home Price Index. This rate plays a pivotal role in shaping buyer affordability and overall market trends.

On a monthly basis, here's how the Las Vegas housing market ended in June 2023

Las Vegas Housing Market Trends
Source: Las Vegas REALTORS®

Las Vegas Housing Market Forecast 2023-2024

What are the Las Vegas real estate market predictions for 2023? The Las Vegas real estate market is one of the most dynamic and ever-changing markets in the United States. One factor contributing to this growth is the strong job market in Las Vegas. With major industries such as hospitality, gaming, and entertainment, Las Vegas has a strong job market that attracts many people to the city. This, in turn, increases the demand for housing in the area, which drives up home values.

Another factor contributing to the growth of the Las Vegas housing market is the city's reputation as a popular tourist destination. As more people visit Las Vegas and enjoy the city's amenities, they may be more inclined to purchase a home in the area, which can increase demand and home values.

Current Market Snapshot

As of June 30, 2023, the average home value in the Las Vegas-Henderson-Paradise area is estimated at $402,054. This figure reflects a decline of 6.7% over the past year, showcasing the market's adaptability to changing conditions.

  • Key Metrics at a Glance
  • Typical Home Values: $402,054
  • 1-year Value Change: -6.7%
  • Median Sale to List Ratio (May 31, 2023): 0.988
  • Percent of Sales Over List Price (May 31, 2023): 20.6%
  • Percent of Sales Under List Price (May 31, 2023): 58.6%
  • Median Days to Pending (June 30, 2023): 16

Market Forecast: What Lies Ahead?

The housing market's future trajectory is a matter of speculation, influenced by various economic factors. According to a 1-year market forecast provided by Zillow, the Las Vegas housing market is predicted to see a growth of 4.1% by June 30, 2023. This projection suggests a potential recovery from the recent decline, indicating positive momentum in the coming months.

Insights and Implications

The Las Vegas housing market, like any other, is influenced by a complex interplay of supply, demand, economic indicators, and external factors. The decline in home values over the past year might indicate market adjustments, possibly influenced by broader economic conditions.

The data also reveals interesting trends in terms of sale price ratios. With a median sale-to-list ratio of 0.988, it's apparent that homes are selling relatively close to their listing prices. Furthermore, the distribution of sales over and under list prices highlights a diverse market, where some properties are fetching prices higher than the list while others are closing under the listed price. This variability suggests the importance of strategic pricing and negotiation tactics.

The median days to pending, standing at 16 underscores the speed at which properties are moving in the market. This could indicate a strong demand for homes and a competitive landscape that prompts buyers to act swiftly.

Navigating the Las Vegas Housing Market

As the Las Vegas housing market grapples with changes and adapts to economic shifts, potential buyers and sellers need to stay informed about these ongoing trends. While the past year may have seen a decline in home values, the upcoming 1-year forecast predicts a potential resurgence, pointing to an evolving market landscape.

Whether you're a first-time homebuyer, a seasoned investor, or a seller contemplating listing your property, these insights can serve as valuable guideposts. The Las Vegas housing market is a dynamic arena, and understanding the trends and predictions can help you make the right decisions for your unique circumstances.

Remember that while data provides a valuable foundation, working with a knowledgeable real estate professional can provide nuanced insights specific to your situation. To navigate the Las Vegas housing market with confidence, consider reaching out to experienced realtors who can provide personalized guidance based on your goals and needs.

Las Vegas Housing Market Forecast
Source: Zillow

Las Vegas Real Estate Market: Is It A Good Place For Investment?

Now that you know where Las Vegas is, you probably want to know why we're recommending it to real estate investors. Is Las Vegas a Good Place Real Estate Investment? Many real estate investors have asked themselves if buying rental property in Las Vegas is a good investment. You need to drill deeper into local trends if you want to know what the market holds for the year ahead. We have already discussed the Las Vegas housing market's historical and current trends for answers on why to put resources into this market.

Las Vegas is a minimally walkable city in Nevada. It is the 32nd most walkable large city in the US with 583,756 residents. Las Vegas has some public transportation and does not have many bike lanes. Downtown Las Vegas, home to the casinos and hotels, is the city's most accessible neighborhood, but housing is sparse there. In 2018, the Las Vegas housing market was so hot that it outperformed the best U.S. housing markets like Seattle. The Las Vegas real estate market is entirely brimming with new businesses.

It isn't just about casinos, medicine is a growing industry as well. The University of Las Vegas and Zappo's, the internet shoe store, is also based in Vegas. Its friendly business environment is propping up the economy and helping towards the positive Las Vegas real estate market trends. The new businesses are propping up at a much faster rate than the national average.

Las Vegas has a mixture of owner-occupied and renter-occupied housing units. It is a big rental property market. According to Neighborhoodscout.com, a real estate data provider, three and four-bedroom single-family detached homes are the most common housing units in Las Vegas.  Other types of housing that are prevalent in Las Vegas include large apartment complexes, duplexes, rowhouses, and homes converted to apartments.

Las Vegas is the destination point of millions of visitors, the town is famous for its vibrant nightlife, exciting gaming action, and the natural allure of the beautiful desert that surrounds the greater metropolitan area. Tourists pour billions of dollars in Southern Nevada through which thousands of tourism jobs are supported.

Let's learn more about Las Vegas and find out why one should invest in this sturdy real estate market. These things make the Las Vegas real estate market stand out when it comes to choosing a place to invest in 2020 and beyond. Keeping aside the short-term impact of the ongoing pandemic, let's take a look at the number of positive things going on in the Las Vegas real estate market which can help investors who are keen to buy an investment property in this city.

Why Is Las Vegas A Good Place For Real Estate Investment?

THE CITY & ITS DEMOGRAPHICS

  • Las Vegas is a beautiful city of million-lightbulb signs and fantastic architecture.
  • It is an internationally renowned major resort city.
  • It is known primarily for its gambling, shopping, fine dining, entertainment, and nightlife.
  • It is often known as “The Entertainment Capital of the World” – because of its “broad scope of entertainment options including nightlife, shows, exhibits, museums, theme parks, pool parties, and so on.
  • Las Vegas has 68 beautiful parks.
  • It is one of the country's leading vacation destinations, drawing far more tourists than the Grand Canyon or Yellowstone National Park.
  • More than 41 million people visit Las Vegas each year.
  • Over 22,000 conventions are held in Las Vegas every year.
  • It has been one of the fastest-growing major cities in the United States.
  • It is the most populated city in the state of Nevada and the 28th-most populated city in the United States.
  • The current metro area population of Las Vegas in 2020 is 2,699,000, a 2.98% increase from 2019 – Macrotrends.net.

THE HOUSING MARKET & PRICES

  • The most prevalent building type in Las Vegas is single-family detached homes.
  • The city has a mixture of owners and renters, with 51.07% owning and 48.93% renting – “Neighborhoodscout.”
  • Las Vegas is in the top 10% nationally for real estate appreciation.
  • Las Vegas real estate has appreciated by 244.86% over the last decade.
  • It amounts to an average annual home appreciation rate of 13.18%.
  • Home values have gone down 1.4% over the past year (ZHVI).
  • The median sold price of homes in Southern Nevada is $440,990.
  • 1-yr forecast: +4.1% (ZHVF) until June 2024.
  • Las Vegas rental real estate market remains healthy and affordable for most renters.
  • There's also no slowdown on the horizon for the number of people moving to Las Vegas.

THE ECONOMY

  • The Las Vegas Valley as a whole serves as the leading financial, commercial, and cultural center for Nevada.
  • Las Vegas is home to more than half of the 20 largest hotels in the world.
  • There are more than 150 casinos and roughly 150,000 hotel rooms in the Las Vegas valley area.
  • Las Vegas annually ranks as one of the world's most visited tourist destinations – famous for its mega casino hotels and associated activities.
  • A diversified economy is driven by health-related, high-tech, and other commercial interests.
  • The primary drivers of the Las Vegas economy are tourism, gaming, and conventions, which in turn feed the retail and restaurant industries.
  • Mining constitutes the mainstay of the region's industrial sector.
  • Most of the manufacturing plants are concentrated in the communities of Henderson and North Las Vegas.
  • No state tax for individuals or corporations, as well as a lack of other forms of business-related taxes, have aided economic growth.
  • Construction is also a significant component of the economy.
  • The government is the metropolitan area's single largest employer.

These are just some of the highlights that make Las Vegas a great place to live and invest in real estate. The list can go on and on. Before the coronavirus pandemic hit the state, the Las Vegas real estate market forecast was as hot as the desert heat in Nevada. Keeping aside this crisis for a moment, the housing market in this region provides an excellent opportunity for investors. They are expressing confidence in the stable housing prices and the number of available housing units on the market.

New businesses are being created at a much faster rate than the national average. Las Vegas is also a strong rental market. Nearly 40% of the population rents in Las Vegas. Rental properties near these new businesses will benefit greatly due to the increasing tenant pool and the general improvement in economic activity that they bring. The first half of the previous year saw a huge increase in the demand for housing in Las Vegas, Nevada.

The inventory of homes has further decreased from last year. The current local housing inventory in Las Vegas is just over a two-month supply of homes available for sale. The high demand is followed by an increase in population, as well as an overall improvement of the economy in the area. All these factors have had a huge impact on the Las Vegas housing market, which is considered one of the hottest markets in the nation. Las Vegas has experienced several booms in its history, and it saw an incredible real estate bust during the Great Recession.

Las Vegas' recovery hasn't made the same headlines as the 50% or greater declines in home values did a decade ago. Yet its recovery shouldn't keep investors away. For savvy investors, the Las Vegas real estate market is both stable and predictable. Let's find out the latest trends and forecasts.

Las Vegas Home Prices Are Low Relative to Recent Highs

There have been articles claiming that Las Vegas is ready for another bust. However, prices are declining somewhat as new housing stock comes onto the market. This explains why the inventory of unsold existing homes doubled at the end of 2018. Yet the demographic trends that keep the Las Vegas housing market so hot aren't stopping.

This means that the Las Vegas real estate market is seeing a lull with a guarantee that the price will start to rise. The Las Vegas housing market is a great place for real estate investment. It remains relatively affordable than the expensive seller markets in the US. When people lose their jobs in great numbers, home prices crash as they did in Las Vegas a decade or so ago.

Homes went from an average price of over $300,000 to less than $150,000. Home prices have recovered, though due to inflation, they remain well below historic peaks. Likewise, Las Vegas foreclosure rates have fallen but they remain high by national standards. Around one in a thousand homes are foreclosed on each month.

Las Vegas Housing Prices Are Rising Slowly but Surely

The wide-open deserts around Las Vegas constrain the Las Vegas real estate market. The federal government owns the vast majority of the state. The Clark County government asked the federal government to allow them to take over 38,000 acres of land and start building housing. Nevada Congressional delegation has to ask the Bureau of Land Management, and they may take years to give their permission if they ever do.

This means that Las Vegas is surrounded by a lot of open lands, but it cannot simply expand to meet demand. This will continue to drive up prices in the Las Vegas housing market. We don't think the Las Vegas housing market is set up for a bust because it isn't overheating. The home values have gone up 1.8% over the past year. That's a healthy growth rate, whereas double-digit price increases are unhealthy. This rate is skewed by the number of new luxury homes coming onto the market and the constant churn at the high end of the market.

Las Vegas Is Landlord Friendly

Unlike many other Western states, the Las Vegas real estate market is landlord-friendly. It isn't difficult to evict non-paying tenants from Las Vegas investment properties. In general, they have five days from the date rent is due to “cure” the problem or eviction can begin. The same time frame is used to correct issues like lease violations, after which the person can be evicted. After those five days, the case can go to court, and these are landlord-friendly. Rulings typically arrive the same day, after which point the tenant has one day to leave the premises.

Landlords don't have to pay interest on deposits. There are no limits on late fees, though the late fees due must be spelled out in the rental agreement. There is no payment grace period set by state law. All of this adds up to the Las Vegas real estate market being a paradise for landlords.

Update: On July 1st, 2019, a new tenant protection legislation named SB 151 officially went into effect. It provides tenants with more time to deal with the consequences of eviction after they have had an eviction notice posted on their homes. They will now have seven judicial days to pay their rent or quit. The previous time frame was five calendar days.

For landlords, this new housing legislation also enables them to utilize an attorney or agent to prosecute the eviction action on their behalf. They will now need to go find a permitted eviction process server to carry out these tasks. Those who oppose SB 151 claim that giving tenants more time to go through the eviction process, will make it more difficult for owners to get their properties back on the rental market.

Las Vegas Job Market Attracts People

The Las Vegas job rate has ranged from half a point to a full point above the national unemployment rate. However, that's better than the unemployment rate in Arizona, Salinas, or the San Fernando Valley. And it is places like that sending de facto refugees to Las Vegas. The diverse economy of Las Vegas includes low-skill but good-paying jobs in entertainment, hospitality, and services. It draws thousands of new residents each year. This growth, coupled with its unusual economic basis, has made Las Vegas one of the wealthiest cities in the country.

Since the 1990s, Las Vegas has had one of the fastest-growing employment bases in the country, benefiting from a large labor pool and a favorable business climate. These conditions enabled city promoters to entice businesses of all kinds to choose Las Vegas over California. Every job-killing regulation in California drives businesses to Oregon and Nevada, too, taking jobs with them. This explains why future job growth for the next ten years is expected to be nearly 40%, well over the 33% expected for the nation as a whole. A growing supply of jobs will propel the demand for the Las Vegas housing market.

Las Vegas Rent Prices Are On the Rise

During the Great Recession, Las Vegas went from a fifth of its residents renting to nearly two-fifths. As the job market and personal credit improved, the area is back to having around 19% of residents choosing to rent. However, rents are on the rise. While homes are being built, many people are unable to afford them. This is because the developers who survived the Great Recession are maximizing their profits by building luxury homes, not the affordable homes that many want.

Due to an improving local economy and ongoing population growth, the demand for apartments remains strong in Southern Nevada. For those who can afford Las Vegas investment properties, this guarantees a large rental population that isn't going to be able to afford the new upscale properties that are coming onto the market.

As of August 2023, the average rent for a 1-bedroom apartment in Las Vegas, NV is currently $1,260. This is a 3% decrease compared to the previous year. Over the past month, the average rent for a studio apartment in Las Vegas decreased by -2% to $1,029. The average rent for a 1-bedroom apartment remained flat, and the average rent for a 2-bedroom apartment remained flat.

The Las Vegas real estate market is a great place to invest in real estate based on these trends. There was a short-term decline in the rents but they are rising back. The unemployment rate is also decreasing so it is a great time to snatch up hot real estate deals by selecting the best neighborhoods.

Another report, issued by the Nevada State Apartment Association (NVSAA) shows that Southern Nevada’s apartment market is starting to stabilize, with rents projected to rise more slowly this year than previously projected. The report, produced by the NVSAA based on data provided by CoStar, predicts that apartment rents in Southern Nevada will increase by more than 20 percent from the end of the first quarter of 2022 to the end of the same quarter one year later. The average monthly rent in the first quarter was $1,451, up from $1,198 a year earlier.

Meanwhile, local apartment vacancy rates remain stable, with the average vacancy rate during the first quarter of 2022 at 5.4%. That’s up 0.3% from the same time in 2021. Local apartment construction is also on the rise, with the industry projected to catch up with demand by the end of 2022. The report showed more than 7,000 new local apartment units under construction through the first quarter, compared to about 3,800 units during the same time last year.

The average size for a Las Vegas apartment is 893 square feet with studio apartments being the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer more generous square footage. You can, of course, charge much more for a three or four bedrooms single-family home than an apartment.

The most affordable neighborhoods in Las Vegas are Beverly Green, where the average rent goes for $1,061/month, Crestwood, where renters pay $1,061/mo on average, and Francisco Park, where the average rent goes for $1,061/mo. Other good neighborhoods for affordable rentals include Hillside Heights ($1,061), Huntridge Park ($1,061), and John S. Park ($1,061), where the asking prices are below the average Las Vegas rent of $1,471/mo.

The most expensive neighborhoods by Average Rent are:

Las Vegas Neighborhood Average Rent
Mountain Trails $2,591
Sun City $2,591
The Hills $2,591
Red Rock $2,438
Amber Hills $2,335
The Canyons $2,125
The Crossing $2,125
Paradiso $2,036
Summerlin Village $2,036
The Paseos $2,036

California's Loss Is Nevada's Gain

A $430,000 median price may be steep if you're coming from the heartland where a mid-market home costs $150,000 to $200,000. However, tax refugees from California flooding into Nevada find that same house to be an outright bargain compared to the $781,050 price for a comparable property in Los Angeles.

Southern Nevada is one of the cheaper metropolitan areas in the United States, and it is a fraction of the cost of living in California on nearly every front. This explains why you see so many California license plates in Vegas and why it costs $120 to rent a moving truck to go from Vegas to San Francisco but $2000 to come to Las Vegas.

As per the data by Lasvegasrealestate.org, the luxury home market has expanded as 30% of buyers are moving from California to take advantage of Las Vegas' low cost of living. Even the most expensive custom homes from builders such as Blue Heron are found to be a bargain for out-of-state buyers and investors.

Possibly our second-largest market is retiree buyers in 55+ Communities who enjoy the weather, health care, and activities that only Las Vegas can combine in one city at a value not matched in any major city anywhere in the USA.

Nevada Is the Ultimate, Low Tax Locale

While those who own Las Vegas investment properties will need to pay their mortgage if they don't pay cash for the property and ongoing expenses like maintenance and insurance, Nevada offers very low taxes. There is no state income tax.

Nevada's property tax rates are among the lowest in the U.S. The state's average effective property tax rate is just 0.69%, which is well below the national average of 1.08%. Homeowners in Nevada are protected from steep increases in property tax bills by Nevada's property tax abatement law, which limits annual increases in property tax bills to a maximum of 3% for homeowners.

Thus, even if home values increase by 10%, property taxes will increase by no more than 3%. The taxable value of a property is calculated as the cash value of the land (the amount the land alone would sell for on the market), and the replacement cost of all buildings minus depreciation of 1.5% per year since construction.

The assessed value is equal to 35% of that taxable value. Thus, if your County Assessor determines your home's taxable value is $100,000, your assessed value will be $35,000. Tax rates apply to that amount.

There are numerous tax districts within every Nevada county. Hence, when comparing between counties, it is useful to look at average effective rates. Clark County contains almost 75% of the state's residents and includes Las Vegas. The average effective property tax in the county is 0.70%, slightly higher than the statewide average, but still significantly lower than the national average.

If you're planning to buy in Nevada, the most common type of home loan is a 30-year fixed-rate mortgage. This option gives you plenty of time to pay back the loan and your interest rate remains the same for the duration of the loan's life unless you refinance. You can also consider a 15-year fixed-rate mortgage.

It allows you to pay off your loan quicker and comes with a lower interest rate, but your monthly payments will be higher. As we write this, the average Nevada rate for a fixed 30-year mortgage is 3.46%, and for a fixed 15-year mortgage it is 2.83%.

Nevada Real Estate Investment Markets

Las Vegas is a shining beacon in the desert for those fleeing California or simply hoping to make it big. Many others simply come to earn a living serving the many tourists who visit here each year or work at the firms relocating to this tax haven. All of this gives the Las Vegas real estate market a bright future.

According to PwC's annual real estate report, the Las Vegas housing market will enjoy a population growth rate that is well above the national growth rate. This is a continuing trend as data from the US Census Bureau shows a net migration of 6.46% from 2012-2016.

This earned the Las Vegas real estate market a spot among the best places that people were moving to in 2018. The city will hold this title well into 2020 according to the forecast. Good cash flow from Las Vegas investment property means the investment is, needless to say, profitable.

A bad cash flow, on the other hand, means you won't have money on hand to repay your debt. Therefore, finding the best investment property in Las Vegas in a growing neighborhood would be key to your success. If you invest wisely in Las Vegas real estate, you could secure your future. The best investment is now looking for a rental property that will generate good cash flow.

Your best tenants would be retirees who intend to relocate to Las Vegas and want to purchase property to rent out. The running costs for owning and managing a Las Vegas rental property should not be high. A cheaper neighborhood in Las Vegas might not be the best place to live in.

A cheaper neighborhood should be determined by these factors – Overall Cost Of Living, Rent To Income Ratio, and Median Home Value To Income Ratio. It depends on how much you are looking to spend and if you are wanting smaller investment properties or larger deals such as duplex and triplex in Class A neighborhoods.

Las Vegas home prices have reached new heights, the market remains attractive to residential real estate investors. As they continue to compete for potential investment properties at the lower end of the market, the challenges for first-time homebuyers will remain. Millennial homebuyers can't outbid real estate investors and hence end up renting.

As with any real estate purchase, act wisely. Evaluate the specifics of the Las Vegas housing market at the time you intend to purchase.

There are many other markets near Vegas, that you can choose for real estate investing. As a result of an influx of companies and jobs in Northern Nevada, strong housing demand continues to put pressure on the available supply. The Reno real estate market is ideal for investors for several reasons. Supply is limited, and demand is growing.

Rental rates are driven by several competing markets that aren't going to slow down any time soon. Forget owning a couple of condos in Las Vegas and invest in a more affordable, stable real estate market like Reno. Good cash flow from Reno investment properties means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won't have money on hand to repay your debt.

Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.

NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Las Vegas.

Not just limited to Las Vegas or Nevada, you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We're standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Las Vegas turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.

Latest Market Data, Trends, and Statistics
https://www.lasvegasrealtor.com
http://myresearcher.com/glvar-section-new
https://www.zillow.com/las-vegas-nv/home-values
https://www.lasvegasrealestate.org
https://www.littlebighomes.com/real-estate-las-vegas.html
https://www.neighborhoodscout.com/nv/las-vegas/real-estate#description
https://www.realtor.com/realestateandhomes-search/Las-Vegas_NV/overview
https://summerlincommunities.com/las-vegas-real-estate-market-update-august-2020/

LAS VEGAS' ECONOMIC & JOB GROWTH INDICATORS
https://en.wikipedia.org/wiki/Las_Vegas
https://downtown.vegas/visitors-guide/fun-facts

Low taxes
https://smartasset.com/taxes/nevada-property-tax-calculator
Geographical constraints
https://www.reviewjournal.com/news/politics-and-government/clark-county/clark-county-unveils-land-proposal-draws-ire-from-groups

Price growth
https://www.mashvisor.com/blog/las-vegas-housing-market-2019
https://knpr.org/knpr/2018-09/las-vegas-housing-booming-does-mean-another-bust-horizon
https://thenevadaindependent.com/article/las-vegas-appears-to-be-entering-a-steady-housing-market
https://www.forbes.com/sites/forbesrealestatecouncil/2018/07/17/why-las-vegas-luxury-real-estate-is-the-next-big-market-boom/#7b20b1c41543

Landlord friendly
https://www.costellomgmt.com/landlord-tenant-laws-nevada
http://lasvegasgleaner.com/the-rent-is-too-damned-highhttps://www.avail.co/education/laws/nevada-landlord-tenant-law

Loss of California
https://www.ktnv.com/news/nevada-sees-population-boost-as-people-leave-california-in-droves

California refugees
https://finance.yahoo.com/news/hottest-housing-market-2018-163701109.html
https://www.ktnv.com/news/nevada-sees-population-boost-as-people-leave-california-in-droves

Job Market
https://patch.com/california/encino/map-unemployment-rate-drops-in-state-in-may
https://www.sacbee.com/latest-news/article213798654.html

Foreclosure rates
https://www.reviewjournal.com/business/housing/las-vegas-foreclosure-rate-dropping-still-among-highest
https://www.realtytrac.com/statsandtrends/foreclosuretrends/nv/clark-county/las-vegas

Kansas City Housing Market: Prices, Trends, Forecast 2023

by

The Kansas City housing market is hot and in many ways the envy of housing pundits on both coasts. This dynamic market spans both Missouri and Kansas and is characterized by rising home prices, low inventory, and a fiercely competitive market. Whether you're a buyer or a seller, staying on top of the latest trends and forecasts for 2023 is crucial. In this article, we'll provide a comprehensive overview of the Kansas City housing market by delving into the latest data, insights, and predictions. So, let's dive right in!

Kansas State Housing Market Update

Kansas City is also in the state of Kansas. It is the third-largest city in the U.S. state of Kansas, and the county seat of Wyandotte County. The following housing market trends are the state of Kansas and the Kansas City located there. Kansas is a state in the Midwestern United States that has seen some significant changes in its housing market in recent years. We will explore the market highlights for July 2023, including home sales, prices, and mortgage rates, as reported by the Kansas Association of REALTORS® (KAR).

“Sales through the first half of the year are down nearly 15 percent compared to 2022,” said KAR president Thomas Howe with McGrew Real Estate in Lawrence. “Nevertheless, it remains a sellers’ market due to very tight inventories.”

July 2023 Market Highlights

Home sales in Kansas fell by 18.7% in July 2023 compared to the same period last year. National sales fell with sales dropping 16.6% over 2022. Home prices continue to increase across the state. The statewide average sale price in July was $312,457, a 4.9% increase compared to last year. Midwest prices rose 3.9% and US prices rose by 1.9%.

Mortgage rates increased. The national average commitment rate on 30-year conventional mortgage for the week ending August 18, 2023, was 7.09%. View Freddie Mac’s report.

Overall, the housing market in Kansas, as highlighted in July 2023, is experiencing a decline in sales compared to the previous year, notably by 18.7%. However, it remains a sellers’ market due to limited inventories. Rising home prices, as evidenced by a 4.9% increase in the statewide average sale price, indicate the ongoing demand. It's crucial to keep an eye on mortgage rates, which have risen significantly in recent times, impacting the market dynamics.

Missouri Housing Market Trends

Missouri Housing Market Report
Source: Missouri REALTORS®

The housing market in Missouri during July 2023 exhibited several notable trends and figures that provide valuable insights into the real estate landscape. Let's delve into a detailed analysis of these trends. We will analyze the data from Missouri REALTORS® to understand the trends shaping Missouri's real estate sector.

Number of Listings

The number of listings in Missouri has been on the rise, reaching 9,168 in July 2023, representing a 42% increase compared to March 2023.

Year-to-date Figures

Comparing year-to-date figures for 2023 against previous years reveals interesting trends:

  • Number of Residential Properties Sold – YTD: There have been 41,233 properties sold in 2023, marking a 16.8% decrease compared to the same period in 2022 and an 11.0% decrease compared to 2021.
  • Median Residential Property Selling Price – YTD: The median selling price for residential properties in 2023 stands at $247,000, showing a 2.9% increase from 2022, 14.9% increase from 2021, and a significant 37.2% increase from 2020.

Monthly Detail Comparison

Comparing July 2023 with previous years and the preceding month:

  • Number of Homes Sold: There were 6,650 homes sold in July 2023, reflecting an 11.4% decrease from July 2022 and an 27.4% decrease from July 2021.
  • Number of Days on Market: The average number of days on the market remained at 31 days from June 2023, showing a 0.0% change but a 40.9% increase from July 2022.
  • Average Selling Price: The average selling price in July 2023 was $307,361, a 4.0% increase from July 2022 and a notable 12.7% increase from July 2021.
  • Median Selling Price: The median selling price in July 2023 was $259,900, reflecting a 4.0% increase from July 2022 and a significant 13.0% increase from July 2021.
  • Monthly Dollar Volume: The total dollar volume for July 2023 was $2,043,949,986, showing a 14.3% decrease from July 2022 and a 18.2% decrease from July 2021.

The housing market in Missouri during July 2023 exhibited fluctuations, showcasing a decrease in the number of homes sold compared to previous years. However, the median and average selling prices remained on an upward trend, indicating potential growth and stability in the real estate market. Monitoring these trends is vital for both buyers and sellers to make informed decisions in this evolving market.

Kansas City, Missouri Housing Market Report

Kansas City Housing Market Trends
Credits: Kansas City Regional Association of Realtors (KCRAR)

Located on the Missouri River at the confluence with the Kansas River, the city is contiguous with Kansas City, Kansas. But most of Kansas City lies within Jackson County, Missouri. A large, prosperous, self-sufficient, and culturally rich city, it is no wonder why it has seen a continuous rise in its employment, directly impacting the local real estate.

Here are the Greater Kansas City housing market statistics for August 2023 as reported by the Kansas City Regional Association of Realtors (KCRAR).

  • In the Greater Kansas City housing market, the average sales price is up +4.9% to $358,517.
  • Home sales in the Kansas City area totaled 3372 units in August, down 15.1 percent from the same month in 2022.
  • Pending sales were also down by 14.4% to 3025 properties being under contract.
  • Homes that sold in August were on the market for an average of 33 days and sold for 99.6 percent of their original asking prices.
  • The number of active listings decreased by 15.2% year-over-year, which makes the supply equal to 1.8 months (up 5.9% YoY).
  • Months' supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.
  • It is a good indicator of whether a real estate market favors buyers or sellers, and Kansas City is a seller's market.

Kansas City, MO Housing Market Forecast 2023-2024

Kansas City's housing market is one of the most affordable in the nation. It is one of the hottest real estate markets for affordable rental real estate investment. What are the Kansas City real estate market predictions? The housing market has been displaying notable trends and growth over the past year.

In order to understand the housing market in Kansas City, it's essential to delve into the insights provided by Zillow, a prominent real estate data and analytics company. Zillow's data offers valuable perspectives on the current trends and future predictions in the housing market of Kansas City.

The Kansas City Metro Area encompasses the region that includes Kansas City, Missouri, and parts of Kansas. It's a diverse and vibrant area, known for its economic growth, cultural attractions, and thriving real estate market.

Market Insights and Trends

As of August 31, 2023, the average home value in the Kansas City Metro Area stands at $293,501, experiencing a 3.2% increase over the past year. Additionally, properties in this area typically go pending in around 5 days from the listing date.

Looking forward, Zillow predicts a 4.6% increase in the housing market for the next year, projecting a positive growth trend in the region.

Key metrics as of July 31, 2023, indicate the following:

  • Median Sale to List Ratio: 1.008
  • Percent of Sales Over List Price: 54.8%
  • Percent of Sales Under List Price: 26.3%

Median Days to Pending for properties in the Kansas City Metro Area is 5 days, as of August 31, 2023.

Market Analysis: Buyer's or Seller's Market?

Considering the data and metrics, Kansas City is currently experiencing a sellers' market. This is evident from the high percentage of sales going over the list price (54.8%) and the low median days to pending (5 days), indicating a high demand for properties in the region.

Are Home Prices Dropping?

As of the available data until August 31, 2023, home prices in the Kansas City Metro Area are not dropping. In fact, there has been a 3.2% increase in the average home value over the past year, suggesting a positive trend in property values.

Hence, the housing market in the Kansas City Metro Area is currently favorable for sellers, with home values on the rise and a high percentage of sales exceeding the list price. However, potential buyers should act swiftly as properties tend to go pending within a short period of time after listing.

Kansas City, MO Housing Market Forecast 2023-2024
Source: Zillow

Kansas City, MO Real Estate Investment Overview

Is Kansas City a Good Place For Real Estate Investment? Many real estate investors have asked themselves if buying a property in Kansas City is a good investment. You need to drill deeper into local trends if you want to know what the market holds for real estate investors and buyers.  Kansas City is the largest city in the U.S. state of Missouri, famous for its distinct barbeque cuisine and jazz heritage. Also nicknamed the City of Fountains, Kansas City is now emerging as a growing market for real estate investments.

When we refer to the Kansas City housing market, it comprises the Kansas City metropolitan area, which is a bi-state metropolitan area anchored by Kansas City, Missouri. Its 14 counties straddle the border between the U.S. states of Missouri (9 counties) and Kansas (5 counties). It is the second-largest metropolitan area centered in Missouri (after Greater St. Louis) and is the largest metropolitan area in Kansas, though Wichita is the largest metropolitan area centered in Kansas.

Kansas City, MO is a minimally walkable city in Jackson County with a population of approximately 460,377 people. In the past ten years, the annual real estate appreciation rate has amounted to 2.88% in Kansas City, according to NeighborhoodScout.com. Kansas City has a mixture of owner-occupied and renter-occupied housing units. Three and four-bedroom single-family detached homes are the most common housing units in Kansas City. Other types of housing that are prevalent in Kansas City include large apartment complexes, duplexes, rowhouses, and homes converted to apartments.

If you are looking to make a profit, you don’t want to buy the most expensive property in the Kansas City real estate market and expect to make a good profit on rents. Perhaps you are looking for a slightly different hold-over, an investment property in Kansas City that you might move into or sell at retirement in the future. Either way, knowing your profit potential and purpose is the first thing to consider.

Top Reasons To Invest In Kansas City Real Estate

  • Kansas City is the largest city in Missouri and is the sixth-largest in the Midwest.
  • Kansas City has long been a favorite of real estate investors.
  • Affordable Turnkey Properties.
  • The largest city in the state of Missouri.
  • The population is expected to grow to 2,200,000 by 2020.
  • 1-year positive appreciation forecast (ZHVI).
  • #62 in the U.S. out of the top 100 MSAs – FHFA.

Overview of Kansas City & its Real Estate Market

Kansas City is a large, prosperous, self-sufficient, and culturally rich city located astride the Missouri River. In the metropolitan area, the population is estimated at 2.1 million. The median household income in Kansas City is 45,376 and the median home price is $146,300. Kansas City is the largest city in Missouri and is the sixth-largest in the Midwest. It hosts the Kansas City Chiefs as well as the Kansas City Royals. It's home to some of the Best Ribs in America.

The city has over 200 water fountains, making it only second to Rome, Italy, hence the nickname “City of Fountains.” It is also important to remember that only Paris, France has more Boulevards. In 2017, a WalletHub survey for real estate market growth in the United States listed the “Kansas City Real Estate Market” at number 18 out of 300 of the fastest-growing cities in the US.

Kansas City has started to do some major revitalization downtown. More than $6 million has been spent giving the downtown area a facelift and new makeover, including, apartments, offices, and condominiums. These facelifts have also been done in both indoor and outdoor malls, restaurants, and places for concerts, plays, and other forms of entertainment. Kansas City real estate is very affordable; the home prices are near the national average. All of these make Kansas City properties attractively appealing to investors and homebuyers who are looking for gains in cash flow.

Employment in Kansas City

Employment in Kansas City is diverse, with major industries including healthcare, finance, and manufacturing. The city has a low unemployment rate and a growing job market, making it an attractive place to live and work. The unemployment rate in Kansas City, MO, is currently at 2.80% for March 2023, which is lower than the long-term average of 6.06%.

This rate is slightly higher than the 2.7% reported in February 2023. Comparatively, the US average unemployment rate is 6.0%. This indicates that the unemployment rate in Kansas City is significantly lower than the national average.

Kansas City is experiencing a period of growth, with a thriving job market, a vibrant arts and culture scene, and numerous new development projects. The city's population is also steadily increasing, with more people choosing to call it home. This growth is expected to continue in the coming years, making Kansas City an attractive destination for businesses and individuals alike.

Great Place to Live Due To Rich Culture & Favorable Weather

The city is known for its distinct barbeque cuisine and uniquely crafted breweries, which makes it a preferred destination for foodies. It has more than 100 barbecue restaurants and is known in Missouri as the “world's barbecue capital. The ancient heritage of Jazz music makes it suitable for immigrants who are passionate about music.

The city lies on the shores of the Missouri & Kansas Rivers with a landscape full of fountains. The overall ambiance and accommodating culture are sure to attract more and more residents into the city, which will prove to be a boon for investments in Kansas City Real Estate Market. The weather in Kansas City is beautiful and usually clear and sunny.

September, May, and June are the most pleasant months in Kansas City, while January and December are the least comfortable month. You can almost always count on the 4th of July to be a great day to BBQ and shoot off fireworks and watch your neighbors shoot theirs, creating a competition. The neighborhood fireworks shows have always been as big as the city's, only the last half of the night.

During the shows, everyone in the neighborhood waters the top of their houses for a week straight to avoid catching fire. Where else in America can you find that? Even better, the people are friendly and the weather is inviting. There are nearby lakes for boating, fishing, swimming, and camping. The weather is almost always enjoyable. They get most of their rain in the spring of April and the summer month of June.

Cost of Living in Kansas City

Another great factor that is seen as a boon to the Kansas City real estate market is the cost of living. The cost of living in Kansas City is reasonable and affordable. With the cost of rent and the price you might pay for a house already discussed, there's the cost of day-to-day expenses to consider. A basic lunch around the business district is around $12 unless you go to a fast-food restaurant and order a combo meal, then you're looking at $7.

Milk is around $3.50 a gallon, a 2 lt. A bottle of Coca-Cola is $1.82. These prices are about the same as the national average at –1%. Housing is at 8% below. Kansas City is 15% below Oklahoma and 8% below Indiana. In fact, New York City is 129% above compared to Kansas City, while 14% below Miami, Fl, and 23% below Chicago.

Summary of the cost of living in Kansas City:

  • Four-person family monthly costs: $3,331.71 without rent.
  • A single-person monthly costs: $935.08 without rent.
  • Rent Prices in Kansas City, MO are 32.81% higher than in Wichita, KS
  • Rent Prices in Kansas City, MO are 63.21% lower than in New York, NY.
  • Rent Prices in Kansas City, MO are 26.01% lower than in Atlanta, GA

Rich and Stable Neighborhoods

The city is surrounded by neighborhoods like River Market District as well as the 18th & Vine District and the Country Club Plaza on its north, east & south sides respectively. These vicinities, in combination with the city’s vibrant real estate market, comprise all amenities residents and non-residents alike can take advantage of and put their investments in.

Some of the best neighborhoods in or around Kansas City, Missouri are Waldo, Raytown, The Downtown Loop, Northland, Westwood Hills, Patrician Woods, Chapel, Pendleton Heights, Crossroads, Turner, Westwood, Downtown Kansas City, Ward Parkway, Lake Quivira, Nashua, Shawnee Mission, and Briarcliff-Claymont.

Good Neighborhoods in Kansas City To Invest in Real Estate

  1. The Johnson County of Kansas City: It is high on the list of home buyers as an ideal place to raise a family. It has highly accredited school districts within the county, which include Shawnee Mission, Gardner Edgerton, Spring Hill, Blue Valley, Olathe, and De Soto. Most subdivisions see steady property valuation increases year after year.
  2. The Prairie Village, Kansas City: It is another good neighborhood with low crime rates, mature trees, plenty of quiet neighborhood parks, and accessible community pools.
  3. Leawood, Kansas City: It is a low crime rate area and it’s safer than 79 percent of U.S. cities. The residents have a median household income of $133,702, so they are quite well off. The region is home to the biggest Methodist church in the nation – the United Methodist Church of the Resurrection.
  4. Lenexa, Kansas City: This neighborhood has a median listing price of $394,000. Fifty-four percent report some school education, contrasted with the national average of 22 percent for all cities and towns.

Low median sales prices, which in return, drive a solid rent are another reason to look into the Kansas City real estate market. Add to that the weather, the many activities at your disposal, and the famous “Kansas City BBQ.” There isn't much left to desire when investing in the real estate market. Take a look around, make some calls, and talk to some of the people around Kansas City before you decide.

Good cash flow from Kansas City investment properties means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding a good Kansas City real estate investment opportunity would be key to your success. The three most important factors when buying real estate anywhere are location, location, and location. The location creates desirability. Desirability brings demand. There should be a natural and upcoming high demand for rental properties.

The neighborhoods in Kansas City must be safe to live in and should have a low crime rate. The neighborhoods should be close to basic amenities, public services, schools, and shopping malls. As with any real estate purchase, act wisely. Evaluate the specifics of the Kansas City housing market at the time you intend to purchase. Hiring a local property management company can help in finding tenants for your investment property in Kansas City.

Here are the top ten neighborhoods in Kansas City having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com.

  1. South Hyde Park
  2. Westside North / Westside South
  3. 18th and Vine and Downtown East / Downtown East
  4. Crossroads
  5. Columbus Park
  6. River Market
  7. Longfellow
  8. Pendleton Heights
  9. Western 49-63
  10. Eastern 49-63 / Rockhurst University

NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Kansas City.

Consult with one of the investment counselors who can help build you a custom portfolio of Kansas City turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Kansas City, MO

Not just limited to Kansas City or Missouri but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Kansas City turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.

Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.

Is It The Right Time To Buy Real Estate? Last year was a big one for the nation's housing market. This year, sales and price growth will continue to be propelled by still-strong housing demand. That growing demand is compounded by younger millennials, who are in their prime buying years. About 4.8 million millennials turned 30 in 2021. These first-time buyers are expected to enter the home-buying to build equity in the US housing market. The wave started in 2020, with 4.7 million Millennials turning 30, an age when many people consider buying a home.

Refinancing your mortgage can be a good financial move. This is especially useful if the new rate would be significantly lower. If you got your initial mortgage a decade ago, you may find that a new rate would be low enough to save you tens of thousands of dollars. Refinancing to the short term can also save you thousands of dollars.

Let us know which real estate markets in the United States you consider best for real estate investing! 

Caveat emptor applies everywhere you buy property. Some of this article's information came from referenced websites. Norada Real Estate Investments makes no express or implied representations, warranties, or guarantees that the information is accurate, reliable, or current. All information should be verified using the below references. Norada Real Estate Investments does not predict the future US housing market.

Sources:

  • https://kcrar.com/media-statistics/market-statistics/
  • https://kansasrealtor.com/news-media/market-stats/
  • https://www.zillow.com/kansas-city-mo/home-values
  • https://www.redfin.com/state/Missouri/housing-market/
  • https://www.kansascity.com/news/local/article244912977.html
  • https://realestate.wichita.edu/data-research/data-by-market/kansas-market/
  • https://www.realtor.com/realestateandhomes-search/Kansas-City_MO/overview
  • https://www.neighborhoodscout.com/mo/kansas-city/real-estate/
  • https://www.fhfa.gov/DataTools/Downloads/Documents/HPI/Fact-Sheets/MSAs/2019Q4/FS-KansasCity-2019Q4.pdf
  • http://www.435mag.com/March-2017/Kansas-City-Real-Estate
  • https://www.corevestmentfinance.com/hot-markets-for-residential-real-estate-investors-2018

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