MARKET & TRENDS
BEST COMEBACKS
Best Comebacks
MARKETS LIKELY TO RECOVER POST-PANDEMIC
by Ingo Winzer
Pre-Corona Job Growth Rate
Pre-Corona Home Price Increase
O
ur regular ways of comparing real estate markets are pretty
much out the window because EVERY market is now beset with heavy job losses, and jobs drive demand for real estate. Instead of jobs as they are now, let’s think about jobs a couple of years down the road. Which markets are most likely to have a good recovery once the coronavirus crisis abates? We can start by excluding some: those with a large tourism industry (Las Vegas), with a large aircraft industry (Seattle), with a large government or public university sector (budgets will be tight), and ironically, those with a large healthcare sector (hospitals will streamline their staff). On the bright side, a number of markets were growing at above- average rates in the past year, so I expect they’ll have the best chance at an early recovery. Some have a prominent technology sector, others provide business services, and most had good population inflow in recent years. Our Investors Metro Monitor shows you the risks and opportunities in 200 markets across the country, at www. LocalMarketMonitor.com. •
Dallas, TX
3.7%
4%
Raleigh, NC
3.6%
5%
Omaha, NE
3.0%
6%
Phoenix, AZ
2.9%
6%
San Jose, CA
2.9%
-2%
Houston, TX
2.7%
3%
Boise City, ID
2.6%
11%
Salt Lake City, UT
2.5%
7%
Tampa-St. Petersburg, FL
2.3%
8%
Denver, CO
2.2%
4%
LOCAL MARKET MONITOR, CARY NC
Ingo Winzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in employment 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
88 | think realty magazine :: july 2020
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