Summary
Surging Home Sales in the U.S.
Home sales in certain real estate markets in the U.S. have seen a record surge in the past two years. From oceanfront homes in Florida to mountain cottages in Colorado, buyers are increasingly seeking residences that offer modern amenities, beautiful views, and a great return on investment.
Top Real Estate Markets: Texas Dominates
However, if long-term home value is your main priority, searching for a property in Texas could be your best option. According to a newly released report by SmartAsset, six out of the top ten “best markets for growth and stability” are located in the Lone Star State.
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The Austin-Round Rock-Georgetown area takes the top spot, with home prices increasing almost 370 percent since 1997, marking the highest growth among the 400 metro areas surveyed by SmartAsset. Moreover, investing in a property here presents a 0 percent chance of price decline within a decade of purchase.
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Boulder, Colorado is ranked second in the survey, where home price index has surged by 277 percent over the past 25 years. Consequently, the city boasts only a 1 percent chance of experiencing a price drop, establishing it as one of the most stable real estate markets in the country. Midland, Texas claims the third position, celebrated for its striking skyline, with home prices rising 266 percent since 1997.
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San Angelo, Odessa, Dallas, and Houston are other Texas urban areas deemed excellent for real estate investment according to the survey.
The Best Cities for Investment
Moreover, SmartAsset analyzed the worst-performing cities for long-term home value. Flint and Monroe in Michigan, along with East Stroudsburg in Pennsylvania, find themselves at the bottom of the list.
Worst-Performing Markets for Long-term Value
Furthermore, nationwide, home prices are on the rise, with the median sale price soaring 15 percent, now at $357,300 compared to last year, according to the National Association of Realtors. For additional insights, you can explore the full SmartAsset report here.
