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What Are The Top 10 Real Estate Markets for 2021?

Every year the Urban Land Institute and global consulting and tax firm PwC lists the top housing markets for the upcoming year. According to the 117-page report on Emerging Trends in Real Estate 2021 the top 10 markets with the best overall prospects for real estate in 2021 are:

  1. Raleigh/Durham, North Carolina
  2. Austin, Texas
  3. Nashville, Tennessee
  4. Dallas/Fort Worth, Texas
  5. Charlotte, North Carolina
  6. Tampa/St. Petersburg, Florida
  7. Salt Lake City, Utah
  8. Washington, DC – Northern VA
  9. Boston, Massachusetts
  10. Long Island, New York

Realtor Magazine took a deeper look at these emerging real estate trends and created a list of the top housing markets for 2021 based on year-over-year sales growth and price growth for real estate investors to watch in 2021.

Homebuilding Prospects

Markets with the best homebuilding prospects are those that have enough affordable land for new development and growth as the community attracts more people and jobs:

  • Raleigh/Durham
  • Austin
  • Dallas/Fort Worth
  • Jacksonville, Florida
  • Tampa/St. Petersburg
  • San Antonio
  • Boise, Idaho
  • Atlanta
  • Denver
  • Nashville

Magnet Markets

Cities in the magnet category are those that are growing more quickly than the U.S. average, acting as magnets for both people and companies:

  • Atlanta
  • Dallas/Fort Worth
  • Houston
  • Phoenix
  • San Antonio
  • Tampa/St. Petersburg
  • Austin
  • Charlotte
  • Denver
  • Minneapolis
  • Nashville
  • Portland, Oregon
  • Raleigh/Durham
  • Salt Lake City
  • San Diego
  • Seattle
  • Fort Lauderdale
  • Jacksonville
  • Miami
  • West Palm Beach

The Establishment

These markets are “tried and true”, with established economic, government, and cultural powerhouses that have been providing real estate investment, development, and redevelopment opportunities over the years. Establishment markets include large metro areas, cities with specialized economies, and suburbs that are ascending:

  • Boston
  • Chicago
  • Los Angeles
  • New York
  • San Francisco
  • San Jose
  • Washington, DC – District
  • Inland Empire
  • Long Island
  • Orange County
  • Northern New Jersey
  • Westchester, NY – Fairfield, CT

Niche Markets

Niche markets are not necessarily large or economically diverse. Instead, they have a dominant economic driver that supports stable economic growth over the long term:

  • Boise, Idaho
  • Des Moines, Iowa
  • Knoxville, Tennessee
  • Omaha, Nebraska
  • Columbus, Ohio
  • Madison, Wisconsin
  • Memphis, Tennessee
  • Tallahassee, Florida
  • Charleston, South Carolina
  • Las Vegas
  • New Orleans
  • Orlando
  • Virginia Beach/Norfolk

Backbone Markets

Backbone markets don’t usually rank high in the national surveys. However, they are great places to live and work, and often offer good opportunities for real estate investment and development. Although growth is slower, housing and business costs are more affordable than many other real estate markets in the U.S.:

  1. Albuquerque, New Mexico
  2. Sacramento
  3. Tucson
  4. Birmingham, Alabama
  5. Indianapolis
  6. Kansas City, Missouri
  7. Louisville, Kentucky
  8. Cincinnati
  9. Detroit
  10. Milwaukee
  11. St. Louis
  12. Cleveland

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