PEOPLE ARE MOVING TO KANSAS CITY FROM
NET SEARCH FLOW (NOV 22 - JAN 23)
INBOUND METROS
1 Los Angeles, CA
242 156 124
+1
2 Denver, CO
+1
3 San Francisco, CA
+2
57 44 37 27 27 24 22
4 Chicago, IL
+1
5 Minneapolis, MN 6 New York, NY
+1
+1
7 San Diego, CA 8 Atlanta, GA
+2
+3
9 Seattle, WA 10 Lincoln, NE
+1
+1
which means the best time of year for you to invest largely depends on what type of property you’re buying and how much competition you’re ready to contend with. Keep in mind that 28% of homes on the market in January 2023 saw price drops, an 11% year-over-year increase. In this scenario, you have some negoti- ating power when attempting to obtain a lower sale price. During the past decade, population numbers in Kansas City have been steadily increasing. The current population is well over 500,000 and has increased by more than 50,000 since 2010. If you’re going to be renting out your investment property, you can be confident there will be a large number of people looking to rent. NO. 2 AKRON, OH Akron, Ohio, is another popular Mid- west city with affordable home prices investors can take advantage of. The current median sale price is just under $107,000, which is close to the price at the same time last year. Although home values in most cities usually reach their peak in June and July, the home prices in Akron matched
the June high in September 2022. Another sign Akron is a recession-proof real estate market is the consistency in the number of days homes have remained on the market before being sold. In January 2022, homes were on the market for an average of 33 days before being sold. One year later, homes are on the market for an average of 34 days before being sold. When a recession occurs in markets that aren’t recession-proof, it’s common for buyer demand to drop considerably, which leads to home inventory staying on the market for much longer than usual. Even with a recession nearing, Akron’s real estate market is very nearly maintaining the same performance as when interest rates were at their lowest. LEHIGH ACRES, FL Lehigh Acres, Florida, is among NO. 3 the strongest real estate markets in the U.S. It is ideal for anyone who’s looking to invest in real estate during 2023. Likely the most obvious sign the Lehigh Acres real estate market is performing well is the median sale price of more than $327,000, which is nearly 25% higher than the
median sale price in January 2022. Even though home values are typically at their lowest in January, the median price for a home in Lehigh Acres has only been slightly higher in July, August, and October of last year. Home values have risen substantially during the past decade. In January 2018, the median sale price for a home in this city was $165,000, which means the current sale price is nearly double. If you’re looking to invest in real estate that will provide you with consistent income, the home you end up investing in should appreciate in value over time because of the overall health of the Lehigh Acres market. Keep in mind that the population in this city has risen considerably during the past decade and will likely
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