BYTHE NUMBERS
LOCAL MARKET MONITOR
"Investing isn't just for the money, you can also have some fun."
- INGOWINZER
over-priced. At some point you'll want to sell - this is a speculation, not a long- term investment - but in the meantime you can collect rent. Keep in mind what's driving these prices. In Seattle and Boise, it's the tech industry. In Bellingham and Reno, it's the wealth of Seattle and San Francis- co, respectively. In the Florida markets and Las Vegas, it's the recovery of the vacation/retirement market. In Gree- ley and, to some extent, Fort Worth, it's the energy business. You have to decide how long these drivers will last, and how suddenly they may fall. It's an interesting challenge. •
IngoWinzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in employ- ment and population. Winzer, who has
analyzed real estate markets for more than 20 years, was a founder and executive vice president of First Research, an industry research company that was acquired by Dun & Bradstreet in March 2007. He is a graduate of MIT and holds an MBA in finance from Boston University. Winzer resides in Cambridge, Mass. www.localmarketmonitor.com.
POPULATION (2017)
HOME PRICE INCREASE (2017)
AVERAGE HOME PRICE (THOUSANDS)
JOB GROWTH RATE INCREASE (2017)
HOME PRICE VS INCOME PRICE
LOCAL MARKET MONITOR
147,919
16%
$260
2.1%
-7%
Sebastian-Vero Beach, FL
“Hot Stuff” for the Adventurous Investor
2,889,626
14%
$494
2.5%
25%
Seattle, WA
2,114,801
14%
$236
2.8%
4%
Las Vegas, NV
650,092
13%
$184
2.7%
7%
Lakeland, FL
676,909
12%
$245
3.1%
17%
Boise City, ID
10 HOT REAL ESTATE MARKETS THAT ARE NOT DONE YET.
212,284
12%
$359
2.4%
17%
Bellingham, WA
by Ingo Winzer
450,890
12%
$317
1.7%
20%
Reno, NV
568,088
12%
$233
1.4%
12%
Palm Bay-Melbourne, FL
any investors are conservative souls who just want steady
This month’s list contains the mar- kets, from the 300 we follow, that had the biggest home price increase this past year. When price increases get in this range, the trend can continue for several years. However, that trend does
not necessarily hold true, which is why you'll be taking a chance. That chance is pretty good, though, because with the exception of Seattle and maybe Reno, prices can go quite a bit higher before these markets are
M
285,174
11%
$288
4.0%
11%
Greeley, CO
returns, but not all of them! If you're among those who like to take a chance, our Top 10 list this month gives you some places to look at.
2,395,645
11%
$239
2.7%
7%
Fort Worth, TX
Source :: Local Market Monitor, March 2018
110 | think realty magazine :: may 2018
thinkrealty . com | 111
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