REALTOR® Magazine-Daily News-The Next 3 Hot Real Estate Sectors

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Daily Real Estate News | May 13, 2005 | The Next 3 Hot Real Estate Sectors Although some real estate sectors might “decelerate”—with price growth at slower rates than before—there are three areas of the market that have a strong potential to see home-price acceleration in double-digits over the next two years, according to Lawrence Yun, senior economist at the NATIONAL ASSOCIATION OF REALTORS®. Yun made the prediction to members of the Research Committee on Thursday at the 2005 REALTORS® Midyear Legislative Meetings & Trade Expo, being held May 9-14 in Washington, D.C. These next hot markets to look out for are:

Heavy in-migration regions—Places where a high number of residents move in from other parts of the country, including Nevada and Florida.

Future retirement destinations that are still currently affordable—Places where homebuyers plan to buy now and live once they retire, including Charleston and Myrtle Beach, S.C.; Virginia Beach, Va.; the panhandle of Florida; Alabama; and the North Carolina coast.

Tech-sector heavy markets—Markets where the technology industry is making a comeback, including Seattle; Denver; Austin, Texas; and Raleigh-Durham-Chapel Hill, N.C. “So, as the rest of the country takes somewhat of a breather, these markets will see acceleration of prices into double-digit levels,” Yun said. —Haley M. Hwang, REALTOR® Magazine Online