While the real estate market has been slow in previous years, that doesn’t mean it’s slow across the board. There are a handful of cities across the United States that are experiencing real estate booms this year. If you’ve been looking to invest, consider looking into one of these cities.
Austin is the tech capital of Texas, which is part of the driving force behind the expansion of the “city of eternal boom.” The job force is expected to grow by 3 percent, and the city is very attractive to millennial buyers. Also, more companies will continue to be drawn to Austin as a place to build offices because of its growing tech sector.
Between July 2016 and July 2017, home values jumped 10 percent in Georgia. Expect to continue seeing a strong housing economy throughout the whole state, but especially in and around Atlanta. The cost of living in the city is low, and is home to many large corporations, like Coca-Cola and Delta, meaning there are plenty of jobs. These factors combine to make it an excellent market for investing in real estate.
Known as Music City, recent construction developments in Nashville show that the city is becoming a bigger financial and business center. The city has a low cost of business, low cost of living, and is connected to the east coast. These three factors are driving job growth and resettlement. The city is not only booming for residential real estate, but it’s also experiencing a commercial boom, with numerous hotels breaking ground in the popular tourist destination.
Fort Lauderdale, Florida
Fort Lauderdale is no longer known as just a spring break spot and home for seniors. The city and its downtown district is now home to new condos, rail connections and art districts. According to one developer, the downtown district will be home to 13,000 units once the current wave of construction is completed. This development is a good sign that the focus on the city is moving away from the beach and looking at what else the city has to offer.