These US States Have the Hottest Housing Economy

 

 

 

 

America is having a great year for real estate, and this has led to many different cities getting a huge boost in their sales. If you are looking to invest in some properties, then you want to look for a market that is doing well so you can make sure you are getting a good investment for the future. If you want some ideas on great markets, have a look at this list to see the US states with the hottest housing economies.

 

Texas

The housing market in Texas has started to get a significant rise in sales in the last few years due to their low taxes. Many people have started to look for ways to save money for their future, and paying extra taxes is one thing they can easily cut out by relocating to a great state like Texas that has no state income tax. People have also started moving to the state for its incredible tech industry that just gets better every day.

Texas is a fantastic choice for investment properties, especially if you are looking to get some newly built homes and homes are in the high 300k range. The home prices in Texas are actually very low compared to the rest of the country, and it has risen about 14% in the last year. This is one of the best times to get a home in some of the great places like Dallas, Fort Worth, and McKinney, which are experiencing tremendous economic growth.

 

Arizona

People have been craving somewhere warm and fun to live, and Arizona has become a huge hit that fills both of those needs. The state has plenty of incredible places like Pheonix, Tempe, and Scottsdale that are starting to become housing hotspots. Pheonix has become a huge hub for tech companies over the last few years, and when you combine that with the new construction that has been happening, you get the recipe for a fantastic housing market.

Phoenix is also getting popularity for its multifamily housing market. It ranked #3 as the most desired destination for large families by Forbes. Here you’ll find duplex houses as low as $400k!

This is one of the few states that wasn't hit hard by the construction supply issues that many others were facing, which has led to an increase in housing inventory. Many other states are starting to see their inventory of new houses dwindle, and older homes have started to dominate their markets. While many people enjoy moving in and doing some fixes, others prefer the look and feel of new builds, so they prefer to live in states where there is a large amount of constant construction. 

 

Florida

Warm temperatures always draw in new residents, and many people have started to flock to this coastal state for its surprisingly inexpensive homes. The state has always been known as a vacation spot which has led to many people choosing it as a place for their vacation home. The recent pandemic has led to many people unloading their vacation homes as they were unable to actually take a vacation in them, so home prices in Florida have been fantastic. 

The current median home value in Florida is actually lower than the country's average, which is surprising considering the impressive homes that Florida has. Many places in the state, like Fort Lauderdale, Jacksonville, and Fort Myers, have seen a remarkable increase in home sales due to the increase in available homes. Many people have also started to choose low-maintenance condos over houses, and Florida has plenty of condos available, so it's one of the best places to consider if you are looking for a hot housing market. 

 

Tenessee

Tenessee has become a huge hit in the last few years with its fantastic home prices and beautiful houses. People have started to realize that this great state has a large number of wonderful towns that have begun to become popular. Nashville has always been a popular place, but towns like Knoxville, Chatanooga, and Memphis have also seen some significant real estate trends. 

The median home value in Texas is 100k less than the rest of the country, so it's a fantastic place to check out for some low-priced houses. The cost of living in Tenessee is about 10% less than the rest of the country, and it's one of the most popular places for young professionals. Nashville has become such a popular place for new businesses, which has led to many new residents in the state, and the real estate is selling fast, so you should get in on it as quickly as you can.

There are so many places all across the US that have excellent housing markets right now, and it's a good idea to jump on these markets before they get even crazier. Have a look at some of the homes online, or contact agents in these areas you can talk to them about getting into some of these great homes today!