June 30, 2017
10 Biggest Real Estate Comeback Cities in the U.S.
If you’re a real estate investor, your job is all about knowing the state of this or that housing market. You know which ways the trends are going in different neighborhoods, cities, and towns. You know how to find motivated sellers that are willing to trade their time for money. But do you know the biggest real estate comeback cities in the United States? A recent article on Realtor.com looked at the top 10. Some of the locations may surprise you.
Top 10 Real Estate Comeback Cities
1. San Jose, CA
Post-crash price growth (since 2011): 57%
2016 median home price: $835,200
Less than 1% of homes filed for foreclosure last year and new home construction is increasing ahead of the rest of the country.
2. San Francisco, CA
Post-crash price growth (since 2011): 53%
2016 median home price: $754,500
Young techies never fled! Local companies that went public, like Twitter, have helped accelerate the growth of the economy.
3. Portland, OR
Post-crash price growth (since 2011): 43%
2016 median home price: $335,400
According to the real estate firm HFF, Portland Metro has the nation’s fastest-growing economy.
4. Grand Rapids, MI
Post-crash price growth (since 2011): 30%
2016 median home price: $162,500
“Furniture City” has made an incredible recovery. Robust health care and manufacturing industries have led to booming housing prices.
5. Provo, UT
Post-crash price growth (since 2009): 38%
2016 median home price: $285,200
Just six years after home prices crashed 26%, Provo was one of the top markets for first-time homebuyers to take out a mortgage in 2015.
6. Colorado Springs, CO
Post-crash price growth (since 2009): 26%
2016 median home price: $250,000
Just an hour south of recession-proof Denver, Colorado Springs has homes one-third the price, a great deal for commuters.
7. North Port, FL
Post-crash price growth (since 2011): 51%
2016 median home price: $238,700
Once the poster child of the subprime mortgage crisis, North Port’s house prices have seen an 8% annual price growth since 2011.
8. Charlotte, NC
Post-crash price growth (since 2009): 33%
2016 median home price: $217,600
The real estate market has bounced back, jumpstarted by expansion in the construction and manufacturing industries.
9. Boise, ID
Post-crash price growth (since 2011): 48%
2016 median home price: $218,500
More than 400 tech companies call the Boise Valley home. Home prices have steadily grown since 2011.
10. Reno, NV
Post-crash price growth (since 2011): 77%
2016 median home price: $300,100
Reno has diversified its economy, now offering cheap real estate, virtually no corporate or personal income taxes, and higher education to create a more skilled workforce.
