Top Markets for Real Estate - 2023
by Christopher Levarek
“It is a Capital Mistake to theorize before one has data.”
- Sherlock Holmes, aka. Arthur Conan Doyle
Every year I look at a few data sources to determine which markets are up and coming for 2023. Our targets are focused on Multifamily and Residential markets. Typically we like to population growth, economic growth, low unemployment and multiple employers.
These are often found in what we call “Markets in Expansion”.
As I do every year, let me share the data sources I like to review at the start of the year and the data for 2023. Without further ado, here are the top markets for real estate for 2023…
According to Realtor, TOP 10 Housing Markets for 2023 :
6. Augusta/Richmond County, South Carolina
7. Grand Rapids, Michigan
8. Columbia, South Carolina
9. Chattanooga, Tennessee
10. Toledo, Ohio
1. Hartford, Connecticut
2. El Paso, Texas
3. Louisville/Jefferson County, Kentucky
4. Worcester, Connecticut
5. Buffalo, New York
Realtor Top 10 Housing Markets
According to IRR, TOP 10 Multifamily by Tran. Vol in 2022 :
6. Fort Myers Metro, FL
7. Oklahoma city, OK
8. Nashville, TN
9. Louisville, KY
10. Tucson, AZ
1. Honolulu, HI
2. Detroit, MI
3. Richmond, VA
4. Tulsa, OK
5. Orlando. FL
IRR.com 2023 Viewpoint : Multifamily
According to UHUAL, 2022 Growth States :
6.North Port, FL (4)
7.Myrtle Beach, SC (17)
8.Surprise, AZ (18)
9.Huntsville, AL
10.Charleston, SC
1.Ocala, FL (24)
2.Sacramento-Roseville, CA (8)
3.Madison, WI (5)
4.Palm Bay-Melbourne, FL (3)
5.Auburn-Opelika, AL (23)
Uhual 2022 Growth Cities
According to Urban Land Institute "Markets to Watch for 2023":
6. Raleigh/Durham, NC
7. Miami, FL
8. Boston, MA
9. Phoenix, AZ
10. Charlotte, NC
1. Nashville, TN
2. Dallas/Fort Worth, TX
3. Atlanta, GA
4. Austin, TX
5. Tampa/St. Petersburg, FL
Emerging Trends in Real Estate - Urban Land Institute
IN FINAL
I always advise to take the data and make your own thesis on which markets are better. Look for commonalities among data sources. Then select your top 5.
Dig deeper with local contacts in those markets. Niche down on specific neighborhoods. By doing this, you ensure you are not simply taking all this data at face value.
We are investing in some of the markets, simply join our Investor Club to learn more. For now, Happy Investing!