New home sales in the U.S. surged to 18 percent as of August 2019 compared to the same period last year. According to the latest report by the U.S. Department of Housing and Urban Development, 713,000 units of single-family homes were sold in August 2019. This means that more families are moving into new homes across the country. If you are considering buying a new home for the first time, you may want to look into the top five hottest real estate markets in the U.S. today where sales are currently booming.
1: Austin, Texas
In recent years, the state capital of Texas saw an influx of companies that build new offices in the city. As a matter of fact, U.S. President Donald Trump announced in early October that Apple decided to produce their latest Mac Pro in Austin. This means that more people would flock to the city to take advantage of this employment opportunity. Because of this, houses have been selling like hotcakes. If you are moving to Austin from out of state, exploring this list of the Top 5 Home Warranty Companies of 2019 can make the transition easier, which can ease the process of carrying out a home inspection before move-in.
2: Raleigh-Durham, North Carolina
Just like Austin, the labor opportunities in Raleigh-Durham are continuing to expand. Graduates from the area's colleges and universities are taking advantage of the many available jobs, particularly those who want to venture in the technology industry. Because of this, the real estate sector in the region has been booming in an effort to accommodate people who are planning to relocate to the region because of new work opportunities.
3: Nashville, Tennessee
The state capital of Tennessee is commonly known as the "Birthplace of Rock 'n' Roll." Plenty of people visit this city for its exciting bar scene and for the popular Grand Ole Opry, but the city also has a lot of job opportunities. Nashville is currently experiencing a booming economy because of the numerous construction projects in development and rising demand for housing. Due to its colorful culture and amazing quality of life, Nashville is considered one of the fastest-rising real estate areas in the country.
4: Charlotte, North Carolina
Known as the site of the soon-to-open global technology center, more people are considering a move to Charlotte for work. Some are also looking forward to finding jobs in Wells Fargo or in the headquarters of the Bank of America. Meanwhile, others opt to move in the city because of its low cost of living compared to other metropolitan areas in the country.
5: Boston, Massachusetts
Aside from being a popular spot for students to get their higher education, people are now considering to rebuild their lives in the city to find new jobs. It is also one of the best places in the country to raise their children. It has a lot of libraries, museums, parks, and child-friendly programs that would excite most families. The city's world-class health care also entices people to consider relocating here.
Because of the emergence of new employment options in these cities, Americans are willing to leave their hometowns and begin a new job in a city away from home. This is why the real estate markets in these areas are continuously on the rise. If the trend remains, the demand for new properties will continue to benefit these city's economies and developers.