As with the start of any year, professionals within the industry are anxious to know the markets where they have the most opportunities for business. As WalletHub points out “location, location, location might be the most hackneyed expression in the real-estate profession,” and applies to both the real estate professional and their clients.
Recently, WalletHub analyst “compared 150 of the largest U.S. cities across 14 key indicators of a healthy real estate environment.” The findings of the study were intended to highlight the best places to be a real estate agent in 2017. Check out how their top twenty compare to what realtor.com predicated as the top housing markets for 2017.
WalletHub’s Top 20 Places to Be a Real-Estate Agent
- Honolulu, HI
- Seattle, WA
- Denver, CO
- Boston, MA
- Aurora, CO
- Madison, WI
- Reno, NV
- San Francisco, CA
- Irvine, CA
- Austin, TX
- Colorado Springs, CO
- Portland, OR
- Henderson, NV
- Lincoln, NE
- Santa Rosa, CA
- Spokane, WA
- Nashville, TN
- Vancouver, WA
- Washington, DC
- New York, NY
“In order to determine the best cities for real-estate agents, WalletHub’s analysts compared 150 of the most populated U.S. cities across two key dimensions, including Job Opportunity & Competition’ and ‘Real-Estate Market Health.’” Each city was graded individually and on a 100 point scale.
Realtor.com® 2017 Top 20 Housing Markets
- Phoenix-Mesa-Scottsdale, AZ
- Los Angeles-Long Beach-Anaheim, CA
- Boston-Cambridge-Newton, MA – NH
- Sacramento–Roseville–Arden-Arcade, CA
- Riverside-San Bernardino-Ontario, CA
- Jacksonville, FL
- Orlando-Kissimmee-Sanford, FL
- Raleigh, NC
- Tucson, AZ
- Portland-Vancouver-Hillsboro, OR-WA
- Durham-Chapel Hill, N.C.
- Colorado Springs, CO
- Jackson, MS
- Detroit-Warren-Dearborn, MI
- San Diego-Carlsbad, CA
- Salt Lake City, UT
- Deltona-Daytona Beach-Ormond Beach, FL
- Provo-Orem, UT
- Austin-Round Rock, TX
- Seattle-Tacoma-Bellevue, WA
Markets were ranked as conglomerates based on price and sales gains. Jonathan Smoke, realtor.com’s chief economist, analyzed the country’s 100 largest metropolitan markets for their growth potential. In his finding he said, “They all have low unemployment that’s heading lower, which buoys consumer confidence.”
A Comparison of the Top Job Markets for Real Estate Professionals and Top U.S. Real Estate Markets
Does the potential within the markets above offer the same opportunity to the real estate professional working with the buyer and seller clients? Yes, within five markets there is direct overlap seen in Washington, Massachusetts, Texas, Colorado and Oregon.
What does this mean for the real estate professional? It’s been predicted by realtor.com that the U.S real estate market will experience slow yet moderate growth, this year in comparison to previous years. Despite this prediction the markets where there is overlap offer great opportunity for working real estate professionals as the markets are showing higher than average growth.
Who’s buying what?
“Millennials are more of a buying force in Boston and Los Angeles, while retiring boomers make their presence felt in Phoenix; Jacksonville and Orlando, FL; Raleigh, NC; Tucson; and Portland, OR. Veterans, meanwhile, come out in force in Jacksonville and Tucson.” – realtor.com
There are strong local economies and population growth fueling the nation’s hottest markets. They are forecasted to see both price gains and sales growth, while offering dynamic opportunities to real estate professionals. While location and market viability are very important to obtaining success in real estate, dedicating time to maintaining a healthy pipeline is especially crucial in real estate success. For 6 tips to help you manage your pipeline and grow your business click here.