Buying a home is a very exciting milestone, but in the wake of a financial crisis, homebuyers are more skeptical than ever. It’s been nearly two years since the recession that took a major toll on the housing market. Some cities have seen a great recovery in the past few years while others are still trying to get back on their feet economically. Our friends at Trulia recently released an article that discussed the to the top 10 best and worst locations to buy and rent a home in the current housing market. The article helps potential homebuyers find the absolute best possible place to start finding their dream home.
Trulia took into account house prices, job prospects, wages, vacancy rates, home values or how much rent has increased to determine what places of the best opportunities for potential residents. They found that the data was all over the map. North Carolina has seen the biggest change, as it’s become a strong area for both buyers and renters since the recession. Cities like Las Vegas, Detroit and Sarasota, Florida took the hardest hit during the recession and hadn't recovered as quickly as they would like.
So, where should you be looking for your next home? The top 10 places in which to have purchased a home since the recession include:San Jose, CA San Francisco, CA Denver, CO. Seattle, WA Anaheim, CA Oakland, CA Raleigh, NC West Palm Beach, FL Charlotte, NC Houston, TX
The same things that make the market easier to buy a home make it a bit tougher to rent, but there are still plenty of locations with an excellent opportunity for renters. To have a stable rental market, you need a large inventory and a healthy economy. Some cities have seen growth in both the buying and renting market, but others seem to lean to one side or the other.
For renters, the top 10 best places to rent include:Winston-Salem, NC Fresno, CA Albany, NY Austin, TX Kenosha, WI Madison, WI Fort Worth, TX Greensboro, NC Raleigh, NC Charlotte, NC
To see the worst places to buy and rent read the full article from Trulia.