The Best Places to Buy a Home
With unemployment rates soaring and real estate values plummeting, buying a home seems like risky business any way that you look at it. Have no fear! We have compiled a list for you of the 8 best cities to buy a home in. These are all cities that have proven to be a place of shelter during this economic torrential down pour. Keep in mind, these cities are in no specific order!
San Francisco, California:
San Francisco has long been a destination for the young professionals. The constant influx of new home seekers and investors assure that the demand or price for San Francisco real estate will continue to rise. It is a truly beautiful city, and you can't go wrong purchasing a home in the Bay. That is if you can afford it!
Wilmington, North Carolina:
Being an important port city, Wilmington has a virtually recession proof economy. While it has shown signs of falling real estate values, it hasn't been hit as hard as other major cities. Overall home equity is up from last year and that is a great sign for potential Wilmington home owners.
Austin, Texas:
Austin prides itself on being different than the rest of the country, and that is no different in the housing market. Vacancy ratings are on the decline, and it has one of the lowest unemployment rates in the country. Aspiring home owners have no worries with Austin, this tech heavy city is thriving and it looks like it will continue thriving for the foreseeable future.
Phoenix, Arizona:
Phoenix is a city that was originally hit hard by the recent housing market problems, but it is a city that is definitely on the rise. Over the last year, property sales numbers have been increasing, and that shows that both investors and home owners are back to giving Phoenix a shot. Economic forecasts also predict that the employment rate will soon be on the rise. Phoenix is a city worth taking a chance on!
Denver, Colorado:
While housing values have shrunk recently, Denver is seeing none of the signs of struggle that the rest of the country is showing. Reports show that price per square foot has increased significantly. It has also been established that the growth has been relatively evenly distributed. That means that the entire city is thriving.
Philadelphia, Pennsylvania:
Philadelphia is rich with history and jam packed with historic landmarks. Even better, Philadelphia real estate value has been on a constant rise. Home of the University of Pennsylvania, Philadelphia never has a shortage of home seekers and that means a continually strong housing market! It also boasts extremely low vacancy rates!
Houston, Texas:
It comes as little surprise that Houston isn't experiencing the same economic troubles as the rest of the country. The oil heavy economy drives the city, and in turn has kept the city booming during this down turn. The average home sale price has done nothing but rise in the past 5 years, and there are no signs of that changing.
While this is definitely a time where buying a house should be done with extreme caution, these are cities that you can't go wrong with making the move to. Each city has its pros and cons, it is up to you to determine which city will suit you and your needs the best. Good luck!
