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The Top 10 Best US Real Estate Markets in 2021

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Most seasoned real estate agents agree that this year marks a turning point for real estate. But what will be the strongest housing markets in 2021 and is now really the right time to invest?

When the pandemic hit its full force in early 2020, many potential sellers and home buyers held back. As the demand for real estate fell, house prices fell. Remote working later became the new normal and the market recovered. People chose properties with additional space for home offices, the housing stock shrank and property prices rose.

In February 2021, S & P’s CoreLogic Case-Shiller real estate index rose 12% compared to February 2020 figures. That has not happened since 2006. Historically low mortgage rates paired with an increase in the housing stock herald the start of a buyer’s market. There is only one question left: will you be there?

Why invest in real estate now?

Data from the National Association of Realtors suggests that home sales haven’t reached pre-pandemic levels – at least not yet. Home sales fell 2.7% between March and April 2021. Even so, Q1 sales were still up 20% from Q1 2020.

Some areas fare better than others in terms of price – but all regions show a strong increase in the median. In the Midwest, sales prices rose 13.5%, while prices in the Northeast rose 22% from a 2020 base value. These numbers indicate continued buyer interest.

On the one hand, increased prices indicate a sellers’ market. On the other hand, increased prices in the market add to the total inventory as they encourage people to sell houses. In return, prices stabilize.

For other reasons, too, the competition is unlikely to be that great this year. According to a recent survey by Clever Real Estate, 62% of tenants who wanted to buy a house in 2021 are now planning to wait.

The same Clever survey found that most sellers wanted to advertise their properties in May, June and September 2021. Property prices might not rise that much between spring and fall this year, so now may be the right time to jump into that dream home or invest in real estate.

The top 10 strongest housing markets in 2021

Ready to dig a little deeper? If you are looking for a home, these metropolitan areas have more competition than most. If you are selling a home you are in great demand in these areas. Without further ado, let’s take a look at some of the strongest housing markets in America in 2021.

  1. Dayton, Ohio

Dayton Neighborhoods Skyline Hot US real estate market

Image: Ami Parikh / Shutterstock.com

With an average retail price of $ 136,000. Dayton is an affordable housing market for new homebuyers. The city itself has around 140,000 inhabitants, an increase of 0.4% compared to 2020.

Population growth is projected to be slow and sustained over the next several years, making Dayton an ideal location for real estate investors.

  1. Winston-Salem, North Carolina

Winston-Salem Skyline Hot US real estate market

Image: Sean Pavone / Shutterstock.com

Home buyers and investors looking to buy a property in Winston-Salem can expect an average price of $ 220,450, up 16.9% year over year.

Located in northern North Carolina near the Virginia border, Winston-Salem is every real estate investor’s dream. Last year rental property prices rose 5% and they are well on their way to performing well in 2021 as well.

  1. Allentown, Pennsylvania

Allentown Skyline Hot US real estate market

Image: Mihai_Andritoiu / Shutterstock.com

Allentown is arguably one of the most competitive real estate markets. It’s also one of the most lucrative. Homes sell after an average of just seven days in the market, and house prices are up 19.5% over the past year.

When looking to buy a home in Allentown, set aside approximately $ 204,127. Experts expect the Pennsylvania housing market to remain strong going forward, making Allentown a good choice for investors.

  1. Provo, Utah

Provo aerial view Hot US housing market

Image: Jacob Boomsma / Shutterstock.com

Home buyers planning to spend money in Provo should budget $ 372,969 for a mid-range property. Provo has a great long-term record of property appreciation – 42.9% over the past 10 years – making it a top property investment destination.

Nestled between the Wasatch Mountains and Utah Lake, Provo is a quaint place to call home. It is therefore not surprising that 46.5% of properties were sold above list value in early 2021.

  1. Ogden, Utah

Ogden Arial views of the hot US real estate market

Image: Jacob Boomsma / Shutterstock.com

Another hot Utah housing market, Ogden is a prime destination for middle-class townspeople looking to relocate. Case in point: Houses often go off the list to pending in less than a week. The average house price sold in Ogden is currently around USD 350.00 – 38.8% more than last year.

As a former border town, modern Ogden has a lot to offer. Hiking trails, rivers, museums and restaurants make this mountain town an interesting place to live.

  1. New Haven, Connecticut

New Haven Skyline Hot US real estate market

Image: Paul Brady Photography / Shutterstock.com

In New Haven, the average home price was around $ 225,758 in early 2021. This architecturally interesting coastal city is home to Yale University and its many museums and galleries make it a cultural gem.

Investors looking to buy in Connecticut can’t do much better than New Haven – so if they can. Town houses don’t come on the market very often, and when they do they are usually sold within a month.

  1. Wichita, Kansas

Wichita Skyline Hot US real estate market

Image: Sean Pavone / Shutterstock.com

According to local buyers, the Wichita housing market is “crazy” right now. The average home price in Wichita was $ 184,900 as of May 2021, making the city a solid destination for first-time home buyers and real estate investors looking to get into banking.

The Wichita real estate market did not slow as much as other markets during the pandemic, and in 2021 it was busier than ever. Homes in Wichita are now about 12.8% more expensive than in early 2020, and local real estate agents expect them to continue to appreciate in value over the next several years.

  1. Austin, Texas

Austin Skyline Hot US real estate market

Image: f11photo / Shutterstock.com

To invest in a home in Austin, you need to spend approximately $ 521,833. That’s over 25% more than you would have spent in 2020 – and prices are expected to rise over the next few months. Austin is in the middle of a real estate boom, with buyers spending far more than expected on luxury waterfront properties, according to CBS News.

Blessed with warm, or at least temperate, weather for most of the year, Austin is the culturally diverse southern hub for a multitude of tech companies. Homes typically stay on the market for about a month before they are bought.

  1. Stamford, Connecticut

Stamford Skyline Hot US real estate market

Image: barbsimages / Shutterstock.com

Stamford is the most expensive place on our list. In February 2021, the median home price sold was $ 541,843. However, according to local real estate agents, the high price did not deter buyers in 2020. For example, New Yorkers who wanted to move out of the city bought property in Stamford en masse.

Located on Long Island Sound, Stamford is a growing city, with residents enjoying easy access to beaches, bird sanctuaries and scenic walking trails. According to the FBI, Stamford is the safest city in Connecticut – and the eleventh safest city in the entire United States.

  1. Boise City, Idaho

Boise Skyline Hot US real estate market

Image: Charles Knowles / Shutterstock.com

Boise City is officially booming. In early 2021, the average home sold price was $ 475,000 – a huge 41% increase since last year. Boise, the seat of Ada County, is the largest city in Idaho and is getting bigger every day.

According to a report by Boise Regional Realtors, 11,784 homes were sold in Ada County in 2020. Zillow predicts that the value of homes in the area will increase by up to 10% in 2021.

The real estate wrap

With the COVID-19 pandemic in full retreat, optimism has emerged. The real estate market is likely to find equilibrium if supply and demand balance – but most experts agree that it probably won’t happen for a year or two. In the short term, house prices are expected to rise less rapidly than between 2020 and 2021.

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Home Appraisal Discrimination Puts a Dent in Black Wealth | Black Voices | Chicago News

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Research shows that black homeowners run the risk of losing the value of their homes because of discrimination in Chicago appraisals.

A 2015 study found that homes in predominantly white neighborhoods were rated more than three times higher than black and Latino neighborhoods, even after taking into account amenities and household income.

Across the country, black homeowners report that their homes are not rated higher until owners have removed all evidence of being black – family photos, for example.

Now there is growing pressure to pass state laws to protect black homeowners from valuation discrimination. US MP Bobby Rush (IL-1st) supports a bill to set up a task force to solve this problem, the Real Estate Valuation Fairness and Improvement Act (HB2533). Rep Rush also sent a letter to the Government Accountability Office requesting a study on racial bias in home evaluations this year.

Rush says he himself was a victim of valuation bias earlier this year when a white appraiser submitted a valuation of his Bronzeville home that was more than $ 250,000 less than Rush expected.

Lutalo McGee chairs the Discrimination Task Force at Illinois Realtors. He says the task force’s first goal is to make more realtors and homeowners aware of the problem.

“As realtors, we really just need to be familiar with the review process, how to work with reviewers, how we advise our clients on cases where we feel reviews have been unfair, and … prices when they come up,” said McGee . “We are here to educate and empower our customers. Both buyers and sellers. “

And the organization hopes HB2533 continues the work of eliminating inequalities in property valuation and increasing the number of black appraisers.

“Our second mission… is to ensure that our brokers and our members understand how the valuation process should work and are able to manage this process successfully. And ultimately, we hope to influence changes to the regulatory framework and guidelines that govern assessments and how assessments are conducted to ensure that things are unbiased and fair for all parties. “

Junia Howell, visiting professor of sociology at the University of Illinois Chicago, says the big differences arose over more than a century and are part of the legacy of decades of housing policy discrimination.

Howell’s work examines the legacy of redlining in national and local trends.

“What we colloquially refer to as redlining – or the process of literally going through government, going through neighborhoods and rating them and giving higher scores to the whites and the wealthier – is still because of the way we use sales comparisons We have approaches today based on these historical sales as well as various levels of bias built into the systemic element and the decisions of individual appraisers, ”Howell said.

Howell says the practice is nothing new and the effects linger.

“These effects are racial inequality, health effects, environmental effects. They’re ubiquitous because the way we value property affects how taxes and schools work, and affects all of these different components, ”Howell said. “And I would like to emphasize that although all individual prejudices are definitely part of the story and we urgently need more diversity in this area, we also have to be ready to think seriously about how the larger structure in the system is built … because this” Even deeper problems are somehow eliminated with this racial inequality and this perpetuation of inequality that we have continued for almost the last century. “

Real estate appraisal trainee Marcus Knight is relatively new to the industry – he only started work eight months ago. As a black man, he is a rarity in his job – according to the Appraisal Institute, less than 2% of reviewers nationwide are black. The former non-profit director says he was motivated to become a valuer when he realized the power real estate valuation can wield in underserved communities. Knight calls the evaluation process a mixture of art and science.

From Knight’s point of view, the reviewer’s race is less critical than a deep understanding of the neighborhoods he is reviewing.

“You need local market experts, and the most important thing is that you don’t have a lot of black and brown appraisers,” Knight said. “So, you know, if you could bring in more blacks and browns who know these areas … [comparables] for object properties that lead to … a fairer evaluation of the properties. “

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Jim Valentine: Real Estate’s confused sea

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Jim Valentine on real estate

Saturday, October 16, 2021

Real estate markets are very similar to an ocean in that they are made up of an infinite number of variables that create many different “moods”. We had a very strong “current” real estate market for most of the year. This situation is easy to spot and many have participated in it to keep it going. While there is still strong “flow” in the market, other factors are starting to stir it up a little.
On the ocean there is a situation known as the “confused sea”, which is defined as a severely disturbed water surface without a single, well-defined direction of wave motion. In such situations the waves go in all directions and create confusion. There are times in the real estate industry when we have such tangled maritime circumstances and it seems like we are about to step into such a time. What could be causing such confusion in such a strong market, one might ask?
The change in the population is interesting. We are seeing an increase in listings in several market segments. One can only wonder why they waited, but it is very likely that these new sellers will see the market weaken and want to intervene before it’s too late. The market may no longer be what it was, but it is still very strong. Buyers may be able to find a home now, but there are other factors that are causing the swirling waves.
Interest rates are rising, which affects the purchasing power of buyers who are restricted in their borrowing. They are still very, very low, but if they increase it can affect the market. There was a time when the interest rates were 18% and 9 points (1 percent of the loan) and we agents said if they ever get back to 12% we could make a living. Buying money from 2.5% to 3.5% is more psychological than financial, but it can have an impact. Other factors at play may cause it to climb a little higher, but it’s still much lower than the dynamic market from 2005 when we had 5 and 6% money.
Inflation has worked its way back into our vocabulary and can cause most of the disruption. The cost of living has skyrocketed ie gasoline, fuel oil / gas, groceries, electronics, cars, appliances, etc. The real impact on daily life is only just beginning to be recognized by the masses, with many public statements reflecting the possibility of this being long term and get worse. Higher cost of living affects creditworthiness.
It is still a good time to buy so that you can own your home and not have to be subject to rent increases or vacate the property because the owner wants to take advantage of this still great market. You can secure a very good interest rate and have stability in your payment. Sellers are more cooperative and therefore allow more conventional approaches to your purchase than the frenzy we had earlier this year which caused many to compromise their emotional and financial comfort to shop in a competitive marketplace. There is still competition, but not as insane. Northern Nevada’s economy remains strong, which is a good thing.
Confused seas have a greater impact on smaller ships. As a tenant, you will feel the confusion in the real estate market more than as an owner. Don’t overwhelm yourself, invest wisely and enjoy the American Dream while everything else is fine. We know from our 40+ years of property sales in Northern Nevada that the market will be cyclical. It always does. Slat the hatches, secure the loose items, and drive off. It makes the ultimate smooth sailing that you are about to experience that much sweeter. Get a plan to sell or buy your home with your realtor and work your plan out.
If you are clear about your wants and needs, you can achieve them in this market. Your clarity will help clear the confusion around you. Work your plan and enjoy the results. Those are the good old days!
When it comes to selecting professionals to assist you with your real estate needs … experience is priceless! Jim Valentine, RE / MAX Realty Partner, 775-781-3704. dpwtigers@hotmail.com

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Kiawah’s record real estate transactions surge 36% for the year, averaging $1.3M per sale | Real Estate

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You are viewing The Post and Courier’s weekly real estate newsletter. Get the latest transactions and the latest news from the fields of development, construction, home ownership and business in your inbox every Saturday.

Kiawah reports record sales of $ 746 million in home sales for the first three quarters

Home sales continue to be strong across the Charleston area, and the upscale vacation island of Kiawah is no different.

Home sales totaled $ 746 million on 562 properties in the first nine months of 2021, which Kiawah Island Real Estate says is the best ever accomplishment for the closed coastal community on the Atlantic.

The numbers averaging nearly $ 1.33 million per sale reflect transactions handled by the agency that makes up the bulk of Kiawah’s sales, as well as sales handled by other companies.

From January to September 2020, total island sales were $ 506 million on 413 properties, a 36 percent increase in sales and a 47 percent increase in dollar volume.

Of all island sales, Kiawah Island Real Estate managed 372 properties for $ 545 million, compared with 258 for $ 345 million in the same period last year. That’s a 44 percent increase in transactions and a 58 percent increase in dollar volume.

The record-low inventory of the island continues with 84 active offers or 1.7 percent of all properties.



House sold

Home sales in Charleston declined for the second time this year in September, compared to the spending spree last year. Warren L. Wise / staff

Home sales are down for the second time this year; Prices do not

Home sales in the Charleston area are still healthy, but they’re not selling at the record rates they were a year ago, and prices continue to rise.

Get the most of real estate news from the Post and Courier, handpicked and delivered to your inbox every Saturday.

Longtime family run inn in Folly Beach sold for $ 3.35 million

According to the numbers

231: Number of units in a new apartment complex planned on the site of a former milk factory on the Charleston Peninsula.

2: Number of times in 4 years Palmetto Brewing Co., believed to be the oldest in Charleston and South Carolina, has changed hands.

8,920: Square footage of a new Dollar Tree discounter planned in Goose Creek.

The historic Middleburg Plantation, built in the 1690s, sells for nearly $ 4.5 million in Berkeley County

This week in real estate

+ Out with the old one: The owner of a long-vacant Bi-Lo supermarket in a shopping mall in Mount Pleasant plans to demolish the building and rebuild two floors of office space above the retail area.

+ Change of hands: A golf course in the Summerville area is now in new ownership after being sold for $ 2.8 million.

+ First phase opens: The first part of a sprawling retail center on the north side of the still developing Nexton is now open.

5 new restaurants in the Charleston area



South

Southbound is a new restaurant coming to 72 Cannon St. in downtown Charleston as part of Free Reign Restaurants, which includes Community Table and Kiki & Rye restaurants in Mount Pleasant. Warren L. Wise / staff

Southbound, a new Charleston-based dining room owned by Free Reign Restaurants, plans to open at 72 Cannon St. on the peninsula in February, while four more new dining outings are on the way in the area.

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Reach Warren L. Wise at 843-819-9269. Follow him on Twitter @warrenlancewise.

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