According to Moody’s Analytics, robust growth in American high technology companies is fueling a housing boom in the following American cities:
- Nashville, Tennesee
- Raleigh, North Carolina
- Austin, Texas
- Charlotte, North Carolina
- Cambridge, Massachusetts
According to the Greater Nashville Association of Realtors, real estate prices have increased 49% over the past 4 years! Moody’s Analytics reported that the number of high tech jobs grew 30% from 2010 through 2015. As a result, Nashville is now the fourth-fastest-growing market for technology jobs in the U.S.A.!
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In Raleigh, home to the Research Triangle, real estate prices increased 38.5% between 2010 and 2015 (source: Moody’s Analytics).
Austin real estate prices increased 37.2% between 2010 and 2015 (source: Moody’s Analytics). A managing director at Moody’s found that millenials are moving to low-cost areas where tech jobs are plentiful. Also, he found that high tech companies are setting up regional offices where there is a large university or research center, such as the University of Texas at Austin.
According to a survey by real estate company CBRE, the number of high tech jobs grew 33.2% from 2013 through 2015, therefore Charlotte’s growth is the second-highest improvement among 30 markets surveyed. According to the Charlotte Regional Realtor Association, real estate prices are up 53% since September 2011.
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According to the Massachusetts Association of Realtors, single family home prices are up 103% since 2011! A broker with real estate firm Compass posits that high tech and biotechnology industries are attracting highly educated and highly skilled workers to the Cambridge area. As a result, real estate prices are skyrocketing!
For the beginner real estate investor, be very cautious when investing in real estate markets that have already experienced double-digit growth during the past 5 years. To learn more about investing in real estate, click here. For more details on the housing boom in 5 American cities, click here.
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The opinions expressed herein are solely those of the Author/WebMaster. Before taking any action, please consult your real estate, financial, and legal advisors.