Houston takes silver for top real estate investment market

Nora Olabi | Houston Business Journal

Texas snatched five of the top 20 spots for the top year-end real estate markets in the country for investing, according to data compiled by national real estate forecasterLocal Market Monitor LLC andHomeVestors of America Inc.

The greater Houston area, including Sugar Land and Baytown, ranked No. 2 on the list.

The list, which evaluated single-family investment property markets, ranked the markets based on population growth, job growth rate and unemployment, conditions ideal for investing in single family homes, said Ingo Winzer, president and founder of Local Market Monitor, in a statement. Markets with small populations were excluded.

Texas markets for real estate investing that made the list:

No. 1: Austin-Round Rock

No. 2: Houston- BaytownSugar Land

No. 7: San Antonio

No. 14: Dallas-Plano-Irving

No. 16: Fort Worth-Arlington

Texas has always been a sweet spot for real estate investing. Its economy is strong, and only getting stronger,” said HomeVestors co-President David Hicks in the statement. “This is spurring population and job growth, especially among younger workers looking for work in retail, business and tourism.”

Other states that made the list include Idaho, North Carolina, Utah, Nevada, California, Florida, Washington, Tennessee and Colorado.

The average cost of a home in the top 10 markets was under $300,000. Homes in the markets listed in the top 20 range from $166,000 to $844,000.

Click HERE for full article