Although rising interest rates and uncertainty in the economy are causing real estate markets to cool off all over the country, some regions are still maintaining a steady stream of new buyers. Here are four real estate markets that are showing no signs of slowing down.
The natural beauty of Colorado has long been a significant attraction, and a robust local economy continues to draw new residents to the Denver Metropolitan area. Because of this, the average home value in Denver is over $400,000, according to McWhinney. As long as there are abundant job opportunities to complement the area’s high quality of life, the Denver real estate market will continue to be able to weather any national woes. Because there is not a glut of homes on the market bringing prices down, real estate listings will be able to maintain their value.
With so few places to grow because of its natural geographic boundaries of mountains and water, Seattle looks to remain a robust real estate market. The area puts homeowners close to a colorful city and the great outdoors. In addition to natural attractions, the city’s business district is thriving. Amazon continues to expand its headquarters in South Lake Union at a breakneck speed while some of Silicon Valley’s hottest companies continue to grow into the Seattle area. These plentiful job opportunities will likely continue to prop up the local economy and keep real estate prices on the upswing.
A few years ago, the secret got out about the high quality of life offered to residents of Las Vegas. Since then, the city has experienced unprecedented growth, and it continues to expand its suburban regions. The relatively affordable homes and commercial real estate prices are still an attractive option for people looking to relocate to this desert oasis. According to The Las Vegas Review Journal, median home prices are a comfortable $300,000. As the city continues to expand its tourism industry and convention business, more and more people will be exposed to the advantages of living in Las Vegas.
An abundance of moderate weather and sunshine continues to draw people to the coast of South Florida. Fort Lauderdale is also rapidly emerging as one of the latest technology hotspots in the country. As more start-ups launch their businesses in this tropical paradise, commercial and residential real estate prices will continue to buck the national trend.
Although prices are expected to cool off slightly heading into 2019, there is still substantial money to be made. By being careful about where you invest your real estate dollar, you can maximize your earnings and take advantage of the cities that are not slowing down.