Tuesday, February 7, 2023

10 cities in the United States to invest in the real estate market in 2023

Through the year 2022, prices in metropolitan areas skyrocketed in the United States, forcing buyers to seek cheaper options in less congested cities, especially mid-sized cities in the South and Midwest .

Markets where it is worth investing

According to Realtor.com, places like Chattanooga, Tennessee; Grand Rapids, Michigan; And Louisville, Kentucky, is a great option for the future: They have affordable prices today and are a great investment for the future, which promises to be a force to be reckoned with in 2023.

Real estate experts indicate these costs, which are accessible today, have increased significantly in places like Columbia, South Carolina; El Paso, Texas; and Toledo, Ohio the next year. This is due to the fact that buyers, post the pandemic, do not look for big metros due to their skyrocketing prices, so they buy properties in less common areas.

Why do real estate prices rise?

Since the Covid pandemic, workers no longer attend their jobs in person, but do their work remotely, leading to the gradual migration of large cities to less populated, quieter and more economically accessible areas. To be left alone.

“If you have a remote work job that you can take with you, it might make sense to move because you’ll stretch your real estate dollar more,” said Realtor.com economist Danielle Hale.

Next most popular city

Pages specialized in real estate expect these to be the most popular real estate markets in the US:

Augusta, Georgia: $319,000, 5.7%

Buffalo, New York: $240,000, 6%

Chattanooga, Tennessee: $397,000, 8.2%

Columbia, South Carolina: $300,000, 3.6%

El Paso, Texas: $291,000, 5.4%

Grand Rapids, Michigan: $358,000, 10%

Hartford, Connecticut: $372,000, 8.5%

Louisville, Kentucky: $290,000, 8.4%

Toledo, Ohio: $161,000, 6.7%

Worcester, Massachusetts: $447,000, 10.6%

The Midwest region of the region is expected to attract first-time buyers: “Having homes available to choose from is another important component of a healthy market, and the Midwest stands out,” Zillow said. “Inventory is not in a hole as large as in pre-pandemic times and declines in new listings are below the national average, encouraged by more consistent demand from buyers.”

Nation World News Desk
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