HomeUnion Identifies the 10 Most Sought-After Real Estate Investment Markets of 2017
Investors shifting focus back to Midwest, while Florida metros wane in popularity
IRVINE, Calif., Dec. 5, 2017 /PRNewswire/ -- HomeUnion, a leading online real estate investment and management firm, has released a list of the most-sought after investment housing markets in 2017. To create the list, the company analyzed two years of sales data on single-family rental (SFR) properties nationwide.
"To remain ahead of the market and meet investor demand, we analyzed investor migration patterns and preferences since the beginning of 2016," explains Steve Hovland, director of research for HomeUnion.
Metros located in the Midwest dominate the top 10 list with Chicago capturing the No. 1 spot. The number of home sales for investment purposes jumped 30.4 percentage points from 2016 to 2017 as more than half of single-family transactions had absentee owners.
"This list highlights the growing popularity of Midwest real estate markets," says Hovland. "Rental properties in these metros are trading at a faster rate than before as their local economies continue to grow, the cost of living is lower than it is in most coastal metros, and median local incomes are keeping pace with home values."
Tampa, Jacksonville and Fort Lauderdale landed at the bottom of HomeUnion's list. "Higher prices are pushing some vacation home buyers to the sidelines in many popular Florida markets. Investors are also becoming more selective when choosing assets in these booming Florida markets," he notes.
Here are the most sought-after real estate investment markets of 2017:
| Metro |
Percentage Point Increase in Investment Home Sales: 2016 to 2017 |
| Chicago |
30.4 |
| Columbus, OH |
18.1 |
| Atlanta |
6.9 |
| Detroit |
2.6 |
| New York, N.Y. |
2.5 |
| Cincinnati |
2.1 |
| Philadelphia |
1.6 |
| Orange County, Calif. |
1.5 |
| Indianapolis |
1.3 |
| Milwaukee |
1 |
Here are the 10 least sought-after real estate investment markets of 2017:
| Metro |
Percentage Point Decline in Investment Home Sales: 2016 to 2017 |
| Tampa |
-6.4 |
| Jacksonville, Fla. |
-6 |
| Fort Lauderdale |
-4.5 |
| Baltimore |
-4.1 |
| Miami |
-4.1 |
| Washington, D.C. |
-3.9 |
| Boston |
-3.2 |
| Buffalo |
-2.7 |
| Orlando |
-2.7 |
| Salt Lake City |
-1.9 |
Source: HomeUnion Research Services
Investment sales include single-family homes that transacted above $30,000 and with absentee tax records.
For more information on real estate investing, read HomeUnion's blog.
About HomeUnion
HomeUnion is an online real estate investment management firm. Based in Irvine, Calif., it provides all the services needed for individuals to invest remotely in rental properties. The company uses a combination of research and proprietary analytics to incorporate data on over 110 million homes and 200,000 neighborhoods into their database, and then delivers its solutions to an on-the-ground infrastructure that currently serves six locations. HomeUnion's role spans the lifecycle of the investment transaction: identifying sound investments, handling all aspects of acquisition, maximizing income, protecting asset value, and selling the asset when the time comes.
SOURCE HomeUnion
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