As we are getting ready to head into the end of the year, it means that we are going to be taking a look at all of the markets to see what they are projected to look like in the coming year. At PQP we generally look at properties that are located in the Sun Belt region of the US, if you’re not sure what that means it’s the area of the US between Florida and Tennessee, which is a total of 15 states along the bottom half of the country.
After looking at research from over 2,000 industry experts, the data is finally showing that things are starting to go back to normal from before the pandemic. While there were record highs the last two years for the housing market, there is going to start to be a slump where things may not sell as fast as things have in the past few years. The pandemic changed how some things will be for the rest of time, but it didn’t change how the business of real estate works.
When looking at properties to purchase everything comes down to competitiveness. The Sun Belt has been found to be one of the most reasonable places to live. When people moved early on, they found the affordability, but now there is a little bit if a tighter spot on the affordability front because the cost of rent is raising. So, while the signs of people moving there are slowing, the developer interest and investments are still gaining momentum. While the Sun Belt may be experiencing some growing pains, it will still remain popular to both businesses and residential people but just at a lower migration rate. According to research, the top markets to watch in the region are:
Nashville, Tennessee
Dallas/Fort Worth
Atlanta
Austin, Texas
Tampa/St. Petersburg
Raleigh/Durham, North Carolina
Miami
Phoenix
Charlotte, North Carolina
While it may seem like there is a slowdown in the real estate game, in actuality, the market is still favorable for investors.
