These are the five markets I predict will be huge in 2024
If you are looking to enter the world of real estate investing next year, now is a good time to start thinking about where to buy property. The best places to buy generally have a growing population, affordable homes and a thriving job market.
We spoke with Curt Carlton, president and co-founder of New Western, a private source of residential real estate investment, to get his predictions for what markets will be huge for real estate investing in 2024.
Atlanta; Charlotte, North Carolina; Tampa, Florida; and Dallas-Fort Worth
Carlton believes some of the latest top markets will continue to be hot through 2024.
"The top markets for investors we've seen pop up over the past few months include Atlanta, Charlotte, Tampa and Dallas-Fort Worth," he said. "In the third quarter, Realtor.com released the top 10 metropolitan areas people are looking to move to, also highlighting Atlanta, Dallas, Tampa and Charlotte."
In addition to their growing populations, there are several other factors that make these places attractive markets for real estate investors.
"These markets are ripe for both homeowners and investors because of the relatively low cost of living and healthy job markets," Carlton said. “They also attract more Fortune 500 companies in various industries, which drives job growth and adds to their strong economies. Moreover, Florida and Texas have no state income tax, which often makes them attractive places to live and work."
Cities in the sun belt
It's not just the big metro cities that will be popular with investors in 2024.
"We found that investors are also targeting smaller but growing cities in the Sun Belt region, which have become increasingly popular with home buyers in recent years," Carlton said. “These cities include places like Raleigh, [North Carolina]; Birmingham, [Alabama]; and Tulsa, [Oklahoma]. We expect the momentum to continue into 2024, driving investor demand."
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