MARKET SPOTLIGHT
Investors Still Finding Success in the Middle BY JOEL CONE, STAFF WRITER
W hen the foreclosure crisis hit the nation in 2007, the greatest impact was reported around the pe- riphery of the nation – from Ohio and Florida, to Texas, Arizona, California and Nevada – home prices plunged as jobs were lost and foreclosure levels went through the roof. And investors walked away. However some parts of the country – especially mar- kets in the middle – experienced much less volatility back then. Investors who hung around after the Great Recession stood to benefit from the quicker recovery of those markets and are still profiting from greater market stability.
The economic indicators that make for a good stable business climate for investors are currently present in many of these markets, including population and job growth, lower unemployment, fewer foreclosures and distressed sales overall along with slower, more grad- ual rates of appreciation. In those markets in particular, veteran investors have continued to thrive by tweaking their business model as the demands of the market have changed. Housing News Report interviewed investors in five of those markets in the middle – Chicago, Denver, Kansas City, Oklahoma City and Saint Louis.
MEDIAN SALES PRICES
2008
2018
$390,000
$216,500 $220,000
$192,500
$181,875
$167,500
$146,510
$147,000
$134,200
$105,000
Denver-Aurora- Lakewood, CO
Kansas City, MO-KS
Oklahoma City, OK
St. Louis, MO-IL
Chicago-Naperville-Elgin, IL-IN-WI
july 2019 25
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