Purchasing a house in this day and age isn’t the easiest of ventures. There’s a lot of that you need to research and inform yourself on before you can dare to go into this world. One of the most important things you need to dive into before thinking about purchasing your home is determining the location. There’s a variety of different factors that you should look into when searching for the perfect spot and a guide to investing in US real estate has them all. One of those factors, maybe even the most important one, is undoubtedly the popularity of a market. If a housing market is popular and in demand, that alone says plenty about its quality. If you’re looking for the hottest housing markets in the United States in 2021 to invest in, let’s get into some of them.
Hire a real estate agent to help you find housing markets in the United States
If you don’t have much experience with the real estate market trends and aren’t as confident as you’d like to be, try asking for help. If you know someone who’s been through the process of looking for a house, that’s a great start because they can give you some valuable input. However, it’s usually not enough. It’s best to look for a successful real estate agent that’s experienced and well-connected. This way, you’ll be able to use all the benefits that they offer to your advantage. And who knows, perhaps you will be interested in becoming a real estate agent once you see how they work.
1. Austin, Texas
Why is Austin the first one out of many hot housing markets in 2021 in the United States? The reasons are numerous. Austin has a 0.28-month supply of homes in the US marketplace if you check the NMLS. Of course, if they had a bigger pool of homes, the stats would be even better. What’s more, the houses closer to the downtown neighborhoods are usually sold for 30% over the asking price. Californians are regularly flocking to Austin since the home prices are a joke compared to those in the state of California. What’s even more impressive is that there’s quite a bit of land outside of Austin. Given the opportunities this presents, it’s safe to assume that the market will only get better. If you’re able to work from home, this market is a dream come true.
What surely helps Austin be the most popular housing market in the United States is that Texas is a business-oriented state. All of the hottest tech moguls are building factories and moving their headquarters here. The Austin City Limits are getting bigger and bigger every year. If you’re looking to move up in the business world and still live in a fun place, look no further.
2. Phoenix, Arizona
As far as the popular housing markets in the United States go, Phoenix is one of the best. As of late, the demand has risen significantly. It’s higher than it’s ever been. However, the supply is meager. For example, there were 3.498 single-family homes on the Phoenix market as of January. Just to compare, there used to be around 18,000 and 22,000 on average. Because of the insane demand, all the usual trends in the real estate sector are no more. People used to go 1% over the asking price on average, whereas now we see them going $30,000 to $40,000 over the list price. It’s only realistic to expect this to continue throughout 2021.
Even though Phoenix is a pretty hot housing market in the US, it’s still affordable. The place itself is pretty great as well. The freeway system makes it relatively easy to get around. There’s a lot of unused land, which offers room for growth and expansion. This is great since there’s no need to tear anything down to build something else.
3. Nashville, Tennessee
Nashville is another booming housing market in the United States where the demand is enormous. This, along with the recent refinancing boom, makes satisfying this demand quite tricky. It’s been about a decade since something like this has happened. Houses in Nashville don’t stay on the market very long, and not having multiple offers over the asking price is rare. If you manage to snatch a house with a fair deal, it’ll surely pay off in the future.
Nashville is one of the best housing markets in the United States for many reasons. And its vibrant nightlife is undoubtedly one of them since you can enjoy great music, restaurants, and fantastic bars. The city’s also beaming with great educational options with over 20 acclaimed colleges. If you’re relocating with a young family, the suburbs are a great place for living.
4. Seattle, Washington
Although it doesn’t seem that likely to a laic, experts actually believe that this United States city’s housing market will outperform the national average. There are many reasons for the optimism that the city’s local agents are displaying. Again, thanks to the currently low inventory of the market, the Puget Sound region houses are selling for over their asking price. In the summer of last year, a study found that Seattle had the best real estate market in the country out of all large cities in the United States at the moment.
If you’re looking to move to Seattle, now’s a great time. A great thing about relocating to this city is that it offers numerous high-quality relocation companies to choose from. You’ll have various solutions for relocation in this city, which can help when you’re starting fresh.
Don’t be afraid to invest
Although there are mistakes in the real estate industry, a sure thing is a sure thing. If you take the time to educate yourself and go over the statistics, it’s doubtful you’ll make a mistake. If some of the United States housing markets have continuously thrived, even amidst the pandemic, you can expect them to continue doing so. It is also a good time for non-US citizens to invest in real estate. Purchasing a property in the hottest markets isn’t as big of a risk as people commonly think.
Look for a place you’ll actually like
What’s important to keep in mind is that, even though you can find great housing markets in the United States, that’s not the only factor you should consider. Look for a place that suits you and that you’ll be happy to call home.