Making an investment is a huge decision. We really need to make a lot of research before diving into a purchase because it involves spending a large sum of our hard-earned money. Here, I would like to talk about the situation of house investment in the US, which can serve as your guide in investing in the market.
The housing markets over the entire country have been wild for the last couple of years: but the south is bringing the heat as it always does. Unfortunately, the heat isn't evenly placed for some markets, which means it's important to know what's happening before you make any investments.
These are the most important things to know about southern housing markets in 2022: and where you should invest in the new year.
The South Over All
The south has older homes while also offering extremely varied landscapes, yard sizes, and house styles. Because of this, every market is incredibly unique from state to state and even city to city. Areas that saw the most economic booms were those that we could offer the most resources during the pandemic. Unfortunately, many fell behind.
The Southern States With the Least Growth
Four of the coolest markets in 2021 were Southern states. This doesn't mean that it's a bad idea to invest there; they're also incredibly cheap to invest in; it's just that investments are offering far fewer returns in these states than any others.
Louisiana saw the coolest markets in the country due to past-due loans that made it impossible for homeowners to sell at a profit. Almost ten percent of homeowners in the Bayou State are behind on their mortgage payments, not balanced out well because this state sees such slow job growth.
Virginia has one of the hottest markets in the country, competing with other hot states like Washington and Texas. A lot of this is due to the low unemployment rank since many people in this state could switch to telecommuting the moment the pandemic began.
The cost of living is balanced in Virginia, making it easier to afford a home: but it's important to recognize that this doesn't necessarily mean the entire state sees the same numbers. Sales and housing prices were hottest near D.C. and cooled off as you moved away from the area.
The State to Keep an Eye On
The top southern state to keep an eye on in 2022 is Tennessee! This state is surprising many, with Knoxville real estate offering an incredible return that other states can't compete with.
As the pandemic cools off, Tennessee is expected to see an even larger growth, meaning that investing now is a chance to get in on gains without having to worry about much risk. This is an awesome place to buy properties with plenty of land, and gorgeous homes that are built to last, at an incredible price.
The Southern Housing Market Is Always Shifting
As with the market anywhere else in the world: the southern housing market will never stay still. There's no perfect way to predict how things will change in 2022, but one thing's for sure, the south is an area of the country that almost every investor has their eyes on.
Get to know the area and see for yourself why the interest is so hot. Do your research so you can make the best investment. Good luck! ✨
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