According to the editors of Realtor magazine, Real Estate IRA investors are seeing our hottest August in more than a decade. Homes for sale are selling faster than they were at this time last year, and prices continue to reach new highs.
Realtor magazine also released its list of the 20 hottest real estate markets in the country so far in 2016 – with Vallejo, California occupying the top spot on the list for the fourth consecutive month. Real Estate IRA owners take note of these areas.
The top ten hottest markets in the United States, by their criteria, are as follows:
- Vallejo, California
- Dallas, Texas
- Denver, Colorado
- San Francisco, California
- Stockton, California
- San Diego, California
- Columbus, Ohio
- Waco, Texas
- Detroit, Michigan
- Sacramento, California
- Fort Wayne, Indiana
- Yuba City, California
- Modesto, California
- San Jose, California
- Fresno, California
- Colorado Springs, Colorado
- Santa Cruz, California
- Kennewick, Washington
- Santa Rosa, California
- Nashville, Tennessee.
While California certainly dominates the list, with 11 of the hottest markets of the country concentrated in the Golden State, the most interesting story to us is the humble Waco, Texas, a plains country ranching town that is brand new to the list.
Kennewick, Washington, was also brand new to the list, and the longsuffering Detroit, Michigan moved up strongly, from number 13 last year to number nine in 2016.
Santa Cruz fell substantially, declining from number 8 on the list all the way down to number 17. Santa Rosa, California likewise fell from number 10 to number 19 – suggesting that other markets are outpacing the Bay Area when it comes to home sales momentum and attractiveness to Real Estate IRA enthusiasts.
Dallas continues to impress, as well, though much of their activity is concentrated in the northern suburbs of Frisco, Plano, McKinney and the surrounding areas. The region has been attracting business investment lately, including the full relocation of Toyota’s 5,000-employee USA corporate headquarters to the region, bringing a corresponding number of new jobs. The housing market has yet to begin to keep up with surging demand in the area, creating strong upward pressure on real estate prices.
Meanwhile, unlike the California cities, house prices are still relatively reasonable and affordable through much of Dallas – which is more than can be said for the high-status cities of Northern California, and for San Diego, for that matter as well.
The same goes even more for new addition Waco, Texas, which is starting to see major gains in momentum for Real Estate IRA investors, as is Detroit. The latter city was thoroughly ravaged by the Great Recession and for a time the city was actually forced to bulldoze vacant homes in order to reduce blight and protect the values of homes that were still occupied.
Recently, though, even Detroit found its footing and is beginning to reward deep value Real Estate IRA investors handsomely.
Notably absent: Washington, D.C., New York and Florida.
American IRA, LLC is America’s leading expert on providing administrative services to Real Estate IRA owners, as well as to those who want to use self-directed strategies in 401(k)s, SEPs, SIMPLE IRAs, Roth IRAs and even Coverdell and Health Savings Accounts.
To set up a free, no-obligation consultation, or just find out some more information, visit us at www.americanira.com, or call us today at 866-7500-IRA.