January 31, 2022
PwC just released their Emerging Trends in Real Estate Report naming Raleigh/Durham #2 in their Top 10 Cities for Real Estate Investors!
The Top 10 List includes:
- Tampa/St. Petersburg
- Dallas/Fort Worth
The ranking leaves out many of the top markets that have consistently been on the list over the past decade, including Los Angeles, Manhattan, Oakland, San Francisco, San Jose, and Washington, D.C.
Interestingly, several factors account for the acceleration of secondary markets, including those that came out of the pandemic:
- Some buyers with office jobs now have the option to largely work remotely, opening up their real estate search to locations with lower costs or more desirable features.
- Most of the markets in the top ten have populations under one million, which has attracted buyers looking for less crowding and easier commutes.
- Eight of the cities have a much lower cost of living than tier-1 cities, with Seattle and Boston standing as the two exceptions on the list.