By Natalie Wise
The 35th annual emerging trends housing report shows emerging markets replacing traditionally-hot real estate spots, and a strong year for the housing market.
The outlook is good for 2014, with the report mentioning this year may be the year for real estate to “recover from the recovery” with expected growth to consistently generate real estate demand in 2014.
Where should investors look for property in 2014? The professionals still agree that San Francisco tops the list, as it did in 2013. The job outlook in San Francisco is driving the thriving market, with jobs expected to grow at a rate of 2 percent this year.
The next city on the list, Houston, is a bit of an underdog rising to the surface this year. It barely cracked the top 5 last year, taking the No. 5 position, and propelled itself to No. 2 this year. Houston experiences above-average population growth and growing industries such as energy, distribution and health fields.
San Jose has stayed at No. 3 since last year, steadily growing with jobs in the tech sector that are expected to continue driving real estate demand.
New York City, second last year, has slipped to No. 4, but remains on the list as a traditionally successful real estate market that is still offering opportunity. However, prices are rising again, and rental apartments and hotels are the best bets in 2014.
The Dallas/Ft. Worth metro breaks its way into the top 5 this year, rising four spots from last year. Dallas is considered a great metro for investment opportunities, aside from hotels, which real estate experts advised against buying in 2014.
Overall, industrial real estate, warehousing in particular, was the top pick for 2014 among real estate professionals. Multi-family housing remains a popular “buy” among real estate experts as well. Read the entire report for more information.