Where is 2024’s Best Real Estate Market?
With the new year fast approaching, savvy investors are already eyeing market conditions for potential purchases in 2024. While predicting the states, regions, cities, and towns that are likely to return the best profits is never an exact science, expert forecasts can help buyers home in on the best locations.
Hotspots for Property Growth
- Where does the data come from?
- 10 locations for 2024’s best real estate purchases
Where does the data come from?
While it can be challenging to bring accurate predictions, by using the home value forecasts from leading data collection and analyst, Zillow, it’s possible to make reasonable projections for the near, mid, and longer terms.
The exponential growth that’s been seen over the past few years appears to be slowing. However, real estate will continue to be a wise direction of funds for investors, with prices expected to rise around 4.9% over the next year. This is, of course, an average estimate. By seeking property in housing hotspots, the wise investor could be looking at increases far superior to this.
10 locations for 2024’s best real estate purchases
The 10 outstanding zip codes that lead the prediction pack are:
- 1st place: 78582: Rio Grande, TX: Here, property is expected to rise a whopping 12.3%, bringing the average property price to $127,312 (from $113,368)
- 2nd place: 37920: Knoxville, TN: A healthy 9.5% rise is predicted, with the average home rising from $283,744 to $310,699.
- 3rd place: 33161: North Miami, FL: 8.8% is the forecasted increase in this sunshine state area, increasing the median property value to $501,725 from $461,145.
- 4th place: 27105: Winston-Salem, NC: A tasty 8.7% climb in real estate value is on the cards. This will bring the average home price to $163,269—rising from $150,269.
- 5th place: 49442: Muskegon, MI: Here, property is expected to rise by 8.6%, bringing the average house to $171,940—up from $158,324.
- 6th place (equal): 33162: Brownsville, FL: Florida’s second show in this top ten list, where real estate is predicted to rise by 8.5% in 2024. That’ll see the median property price rise from $443,856 to $481,584.
- 6th place (equal) 33142: Brownsville, FL: Tying for sixth place is another popular Florida location. An 8.5% rise here will see the average price rise to $407,316.
- 8the place: 28645: Lenoir, NC: A not-too-shabby increase of 8.4% is on the cards here, bringing the average property price up to $206,894.
- 9th place: 379018: Knoxville, TN: This Tennessee postcode could see property rise a healthy 8.3% in value, from $304,881 to $330,186 (average price).
- 10th place (equal): 83854: Post Falls, ID: There’s another tie for 10th place, with prices here predicted to rise by 8.2% ($483,973 to $523,659).
- 10th place (equal): 78537: Donna, TX: Another Texas hotspot, an 8.2% increase brings the median price up from $128,844 to $139,409.
This certainly isn’t an exhaustive list. However, it’s the 10 most potentially lucrative areas that—according to the data—could bring a healthy return on your investment. With Rio Grande, TX potentially offering double-digit growth (and the others in the list not far behind), a BRRRR or fix & flipper in these areas could prove extremely lucrative.
Now You Know Where is 2024’s Best Real Estate Markets, Contact BRRRR Loans to Secure Your Funds
Real estate investment is available to everyone when you fund with BRRRR Loans. Without the restrictions imposed on banks and traditional financial outlets, we lend purely on the business viability of your chosen property. Whether you’re interested in a fix & flip loan, a BRRRR (buy, rehab, rent, refinance, repeat), or you simply need a bridging loan to secure your next primary residence, then get in contact.
Discover more at https://www.brrrr.com and get in touch today for a confidential discussion.
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