The New Year brings new possibilities, and the same goes for the real estate market. Some cities have the potential to grow this year while some others may lose their appeal because of decline in the job growth or increase in the costs of day-to-day life.
People who need to move to a new home or want to invest in the real estate market in 2017, Trulia has compiled a list of top 10 potential real estate market in 2017. The online real estate site has considered five factors for creating the list – low vacancy rates, strong job growth, high affordability, the population of the Republicans because of the outcome of the 2016 election, and the search entries used by the Trulia visitors and users.
Let’s take a look at the top five markets on that chart:
Standing on the St. Johns River’s banks, and known for numerous museums and cultural offerings, Jacksonville is a city in northeastern Florida. The regional business center has made to the top spot on Trulia’s list because of its healthy job growth rate and an influx of people looking for properties to move there. Plus, the city has great weather and proximity to the ocean.
Cape Coral & Fort Myers, FL
The sunny skies and warm weather are obviously alluring, but people are moving to these cities because of the surprising rate of job growth. In fact, its rate of job growth is the fourth highest in the country. Besides, two baseball team Minnesota Twins and Boston Red Sox train in Fort Myers every spring, causing the economy to boost even more during that season.
Deltona, Daytona Beach, and Ormond Beach, FL
Another three Florida cities make into the list for obvious reasons – high job growth and an inflow of people. The ratio of inbound home searches by outsiders want to move into the cities versus searches by locals looking to leave on Trulia is very high. Plus, the cities are some of the safest parts of the country as you’ll never see any hurricane there.
Grand Rapids, MI
Standing on the Grand River’s banks, people come to this Michigan city for the breweries dotted across the town and the art museums showcasing the work of local Michigan artists and famous artists like Henry Moore, Auguste Rodin, and Ai Weiwei. However, Trulia picks it up in the top five because of its high affordability, steady economic growth, and growing jobs available in all sectors.
Tampa & St. Petersburg, FL
Well, it seems that Florida cities have invaded the list! Located on Florida’s Gulf Coast, both the cities have been experiencing steady job growth because of the major development projects in the metro area. The presence of two universities, the University of Tampa and University of South Florida, has also played a key role in creating educational jobs.
The other five entries are Colorado Springs, CO; Charleston, SC; San Antonio, TX; Phoenix, AZ; and North Port, Sarasota, and Bradenton, FL. So, think about these thriving cities before making any real estate decision this year.