Many investors are very concerned with real estate forecasts. They want to know what is going on in their industry and how they can best position themselves for success. With all of the ups and downs of the economy, many people have decided to get into real estate investing. To make money in real estate you have to buy low and sell high.
The question is how do you know where the housing market is going to go? For every state there is going to be slight change, and slight changes mean big differences in your investing portfolio. This means you have to be prepared for the worse and the better. In this article we will be looking at what the national real estate market forecast looks like for the next five years. We will look at Mortgage rates, Five-Year Average, Home Prices, vacancy rates, and Home Selling Prices.
The national real estate market will not rebound until late in the 2020s. Right now there are some areas that are seeing an increase in market values. These include areas like Denver and Orlando. However, there will be little to no growth in Phoenix, Southern California, Las Vegas, and New York City. The Midwest and Pacific Northwest will experience little or no growth at all.
If you are looking for a place to invest, you should avoid areas that have bidding wars. The reason for this is that unless you can get in at the bottom of a bidding war, you may end up paying too much. Areas that have bidding wars usually mean that a home has been purchased recently and is now being resold by the owner at an inflated price.
In my opinion, we are entering into a buying mode in the real estate market. I see signs of buyers going on the hunt to find a bargain. It is called “the hunt for value.” The last year was very active for real estate purchases. This is considered to be the best five years in housing market history.
There are some areas that are showing good signs of price appreciation such as Phoenix, Scottsdale, and Palm Springs. Homes are selling for under market value. Is this good news for buyers? Of course it is! When the economy improves and mortgage rates start to rise, these low prices will appreciate making it easier for homebuyers to purchase homes at bargain prices.
One area that I foresee having moderate to strong growth is New York City. NYC is a great place to invest in residential investment property. I have heard good things about the rental market and the impact it has had on the overall health of the real estate market. If you are a New Yorker, there are several great neighborhoods that I would suggest looking into. These include SoHo, Upper East Side, NoVA, Soho, and so on.
There are many other cities in the United States as well as many countries that can provide us with good information on what the future of the real estate market holds. As an alternative to looking at homebuyer forecasts, it would be much more productive to look at what the population growth forecast is for a particular city or for the country as a whole. A forecasting system like our population growth outlook tool can help home buyers make the right choices on where to invest.
Another alternative to looking at national real estate forecasts is to look at cities like Seattle, San Francisco, and Phoenix. These cities are some of America’s best cities for investing in residential real estate. These cities have experienced significant population growth and are now experiencing an influx of younger people who are looking to move to the city and live with their parents.
Over the last few years, we have also seen phenomenal growth take place in our nation’s capital, Washington D.C. The capital of our country has seen tremendous real estate growth over the last ten years. In addition to the mansions of the Bush administration, the District of Columbia has seen rapid growth and is now home to one of the most vibrant and bustling real estate markets in the country. Washington D.C. has seen an increase in both renters and owner-occupied condos. Some of the areas now seeing the highest demand for new home ownership include the neighborhoods of Potomac, Suitland, Howard Street, Van Dorn Street, limestone, Farragut, Herndon, Wards Island, Foggy Bottom, Wheaton, blighted areas, and the corridor along the Eastern seaboard.
If you are a resident of either of these amazing cities, don’t wait until the winter season hits. It is never too early or too late to start planning for your future. Take advantage of the incredible opportunity that is now available. Take the time to visit real estate websites in your local area. You can get up-to-date information about the average prices for rent or purchase, current news, and most important of all, you can find out about the upcoming January New York housing forecast.