Despite the troubled economy, the best buyers real estate markets for investors in 2010 possess stronger regional economies and the hottest prospects for the highest job growth in the country. Employment is the leading economic indicator for a strong housing market, and the best ten markets have what it takes.
Huntsville, Alabama tops the list with massive job growth due to the federal government’s Base Realignment and Closure (BRAC) program. More than 10,000 new jobs are being created as a result. Huntsville is also nicknamed Rocket City as a major NASA hub.
As one of the largest centers for technological growth outside of California, Austin, Texas is second on the investors list followed by Little Rock, Arkansas. The third place city has suffered through the financial crisis with numerous business closures and economic difficulties, but nothing like the majority of the country. Little Rock holds many of the necessities to make it through the downturn in housing much better than other cities.
Lawrence, Kansas and Auburn, Alabama are two college towns that in many ways have both been insulated from much of the nation’s financial crisis. In tough economic times college enrollment rates rise, and as more students seek degrees both communities should benefit. Stroll through Auburn and you’d hardly realize there was a recession.
|Rank||Real Estate Market|
|3.||Little Rock, AR|
|10.||Las Cruces, NM|
Raleigh, North Carolina has been a hotspot for growth. North Carolina has seen a flood of new residents and Raleigh should do well over the year due to more affordable housing prices, and a diversified regional economy.
Monroe, Louisiana places lucky #7 on the list of the best buyers markets for the year mainly because of a flood of new jobs generated by the farming industry. As the most heavily populated city in Montana, Billings places eighth on the investors list with a diversified economy. Loveland, Colorado places ninth followed in the final spot by Las Cruces, New Mexico selected as the friendliest small city in the country to start a new business. Las Cruces is also home to New Mexico State University, where many newcomers are finding jobs.
In the current economy it may take at least a couple of years to see a good return on investment even in the best markets.