I was on Power Trading Radio a couple of weeks ago and had a great conversation with my friend Merlin. We started talking about how to identify emerging markets to buy real estate. I realized I’d yet to write my yearly article identifying some of those top markets.
I’ve seen several lists, one created by www.realtor.com, which is comprised of data from 146 Metropolitan Areas and Metropolitan Divisions. Realtor.com also used data from the Case-Shiller Home Index and unemployment rates from the Bureau of Labor Statistics.
I also found a list created by InmanNews which I thought was interesting and worth sharing. I felt this list was ahead of the curve. The special report created by InmanNews examined housing, economic and demographic data for all Metropolitan Areas.
The things similar in the top ten markets are: strength in average appreciation, a good job market and rate of sales as it relates to the population, affordability, low foreclosure activity and low vacancy rates.
Number 1 – Raleigh-Cary, North Carolina
Average median sales price was $224,300
Foreclosure Activity – 1 in 1,295 units (national average 1 in 126)
Unemployment rate – 7.8%
Walk Score (a method we look at in class) – 40
Raleigh-Cary affordability rate is higher than the national average, with 73.6…
