Hot Property Boom Towns

If you’ve been paying attention to the press, you may have heard that the real estate market is booming. Recently, Forbes conducted an investigation of where they thought the hottest real estate markets in the country were. These are the markets where the price of housing has the greatest chance of going up over the next few years, all thanks to economic and demographic factors.

If you’re looking to buy a property in the coming year, the results of this study are important. It could mean the difference between building up a healthy equity in your property and losing money.

North Port, Sarasota

When it comes to investment realty, Florida is a boom state right now and nowhere more so than Sarasota, located on the Gulf Coast. Sarasota, like the rest of Florida, benefits from the year-round sunshine and the warm, tropical weather. But that isn’t the only reason why people are flocking to Sarasota according to agent Robert Anderson. He says that the town is also attractive because of the fact that the population isn’t transient. Unlike many other parts of the state, Sarasota is occupied year-round by people who actually live and work in the area. Not only this, he says, but it also has plenty of infrastructure which has helped bump prices up in the area further. For instance, the town has great schools, great hospitals and a wealth of companies and universities.

Phoenix, Arizona

Phoenix is one of America’s fastest-growing cities and is now the eight largest conurbation in the union. People are attracted to Phoenix thanks to its stunning setting, its UFOs and the opportunity to go hiking and biking in the surrounding area. According to Monique Walker, it’s easy living in Phoenix. Despite the fact that the city is one of the largest in America, actually getting around is relatively hassle free. Living in the suburbs and working downtown is easy, thanks to the excellent road network.

First-time buyers can get on the property ladder in Phoenix for as little as $150,000 to $200,000, says Walker. Plus, there are many other homes which sell for more than $1 million. It all depends on your budget, she says. Phoenix is a boom town right now, and if the population keeps growing, so too will the price of housing.

Colorado Springs, Colorado

Colorado Springs sits high up in the Rockies. Thanks to its location, it has a climate that rivals that of Florida, offering both sun and sand to the people who live there. Like Phoenix, there are great hiking and biking opportunities to be had here, as well as the odd short walk for those who are a little less adventurous. But it’s not just the stunning scenery which is drawing people to the area. It’s also the fact that job growth and business growth is high in the area. Colorado Springs is pulling people in from all over the place, thanks to a growing economy. Houses are affordable right now, but many analysts don’t expect it to stay that way for long.