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The Top 5 Real Estate Markets For 2023

Mar 25, 2024
Uli and PWC's annual Real Estate Emerging Trends report for the US and Canada was released late last month and is one of the most anticipated market reports among industry professionals. Each year, this report includes information on the state of commercial

real

estate

. market as a whole a performance outlook for each of the major product types and even a section that is my favorite in the geographic

markets

to watch, which highlights 80 US metropolitan areas and ranks these cities based on future expectations for

real

estate

prospects. These rankings are compiled. based on survey responses from leaders of some of the world's largest real estate companies, including representatives from companies such as Blackstone Brookfield aew e-still jll Pro lodges and many other major companies in the industry, and on the opinions of so many smart people They also control a significant amount of capital flows by bringing them all together in one place.
the top 5 real estate markets for 2023
This is information I pay a lot of attention to, so to save you the time of reading the entire 127-page document in this video, let's review the top five real estate metropolitan areas. by

2023

according to the Uli and PWC report and how these rankings could help identify the next emerging market in 2024. So to start at number five on this list, this market maintained the exact same ranking from the 2022 report and this is Tampa St. Petersburg Florida Tampa St. Petersburg was highly favored in several different categories in the survey, ranking third for projected home construction prospects and in the top 10 of 80

markets

tracked for retail office and hotel property purchase recommendations .
the top 5 real estate markets for 2023

More Interesting Facts About,

the top 5 real estate markets for 2023...

Top Five Metropolitan Areas Tracked in Local Economic Health Investor Demand Development and Redevelopment Opportunities Local Public and Private Investment and Debt Inequity Capital Availability for Businesses, Families and Individuals Looking to Move to the State of Florida Tampa has become a Much more affordable option than Miami and with major employers in the Metro, including Raymond James. Flourishing brands and public supermarkets. No non-existent state income labels. Winters and easy access to beaches. Tampa. St. Petersburg has become an extremely popular market in recent years. Now the Metro is fourth on this list. It also didn't move from its spot in the 2022 rankings and this is Austin, Texas.
the top 5 real estate markets for 2023
Austin ranked first among all metro areas tracked in Local Economic Outlook, investor demand and availability of debt and equity capital and, like Tampa, also ranked in the top 10 for office retail. and hotel purchasing recommendations Austin is projected to see a 2.1 percent annual increase in population over the next five years, which was the highest number of any of the 80 metropolitan areas analyzed in the report and Austin also had one of highest concentrations of office-based employment in The nation trails only New York City, San Francisco and San Jose in this metric over the past 10 years, this market has become one of the most prominent employment centers from across the country and only in 2022 the companies that expanded their presence in the area included Apple Snapchat.
the top 5 real estate markets for 2023
Tick ​​Tock and Facebook created thousands of new jobs in Austin this year and when you combine this with mild winters, no state income taxes and housing costs that are significantly lower than in most other markets with this type of job opportunities and this has led to significant population growth. and overall real estate demand that is very likely to continue into the near future now, unlike Austin and Tampa, the number three market in the

2023

report saw a big jump from its number eight spot in last year's rankings and this is Atlanta, Georgia, Atlanta is expected to see 1.2 percent annual population growth over the next five years, which was significantly higher than the national average of 0.5 percent and Atlanta also ranked the ninth in home construction prospects and among the top 15 markets tracked for development and redevelopment opportunities, investor demand, local economic health and debt availability.
Capital of inequity according to data from the Bureau of Labor Statistics between 2021 and 2022 Metro Atlanta experienced the second-highest job growth nationwide among the country's major metropolitan areas, recording year-over-year growth of more than 6.7 percent and the cost of doing it. Business in Atlanta was also lower than the national average, which was only the case for one other market in the top five on this list with nearly 6.3 million people. Atlanta is one of the largest cities in the entire country with major employers, including Delta Airlines Home Depot. ups and Coca-Cola are already based in the market and now Atlanta is also recognized as the Hollywood of the South.
Job growth will likely continue to rise in the Metro in the near term now that the market that ranked second on this list also saw a big jump from its spot in the 2022 report, moving up from number seven on last year's list. and this is Dallas Fort Worth, Texas, the DFW market ranked fourth among all markets in debt availability and equity capital, third in investor demand, second in local economy. health and local public and private investment and the first in development and redevelopment opportunities in the market in general. DFW is projected to experience average annual population growth of 1.4 percent over the next five years, which was one of the highest of all markets analyzed in the report and this Metro.
It has also quickly emerged as a significantly more affordable option for neighboring Austin, with the median home price in Dallas hitting just $328,000 in September, while the median home price in Austin clocked in at more than $630,000. during this same time period similar to Atlanta DFW is also a major established job market with companies like T Exxon Mobil CBRE Southwest Airlines and Texas Instruments being headquartered in the DFW metroplex and like the other Texas and Florida markets On this list, Dallas has attracted both businesses and individuals with mild winters, no state income taxes and affordable housing options compared to other major markets and finally, the number one market on this list is the first repeat winner in the report since San Francisco topped the list in both 2013 and 2014 and this is Nashville, Tennessee, investors in the survey were extremely bullish on this Metro in nearly every major asset class, with Nashville ranking fourth in recommendations for industrial purchasing, third in multifamily purchasing recommendations, second in retail purchasing recommendations, and the number one market for hotel investors in the report. support Nashville also ranked third among all markets tracked for local economic outlook, second in debt availability and equity investor demand and development in redevelopment opportunities, and first in the local public and private investment report .
Five-year projections for annual population growth in Nashville were nearly three times the national average at 1.4 percent, and projected five-year annual job growth of one percent of the market was two and a half times the national average figure, so the cost of doing business is lower than that of any major Metro among the The five main markets on this list, companies such as Amazon, Heart Media, Oreck and Asurion, already have a significant office presence in the market and a favorable fiscal and business environment in the state of Tennessee. Overall, these are all positive indicators of continued employment and population growth. within the market over the long term, although these rankings can give you a really useful insight into the thoughts of the leaders of some of the world's largest investment firms, what is often even more valuable than the rankings themselves are the patterns that appear in This data could help identify upcoming emerging markets with similar characteristics and the three most important patterns that stand out to me in this report are population shifts in the US moving towards lower taxes, a warmer climate and office employment that makes housing more Four of the five markets on this list are located in states without state income taxes, which is attractive to both businesses and individuals looking to keep more of what they earn.
The average year-round high temperature in these markets is also 76 degrees, which is 19 degrees warmer than the bottom five markets for overall real estate prospects. Each of these metropolitan areas also had office using employment figures that were twenty to forty percent higher than the national average, but these markets still have housing costs that are significantly lower than traditional Gateway markets with Comparable office employment, including Los Angeles, New York, San Francisco, Boston and Washington DC, simply put, companies and their employees are moving to markets with warmer climates, lower taxes and more affordable housing, and if you are looking for the next thing. real estate market that could explode, there is a good chance that you have all three of these characteristics, so if you are trying to come up with an investment strategy or market approach for the new year, I hope this breakdown has been helpful and if you would like to learn more about the investment analysis process or how to build a real estate financial model from scratch in Excel, as always, be sure to check out our all-in-one membership training platform.
Breaking a cre Academy. A membership in the academy will give you instant access to over 120 hours of real estate video training in Financial Analysis and Modeling, you will gain access to hundreds of practice Excel interview exam questions, acquisition case study examples, and you will also have access to the CRA Analyst Certification Exam covering topics such as pro forma real estate and development modeling commercial real estate leasing modeling Equity Waterfall Modeling and many other real estate financial analysis Concepts that will help you demonstrate to employers that you have what it takes to address the responsibilities of an analyst or associate at a top real estate firm and if you like this video and want to see more content on different real estate markets, be sure to hit the like button to let me know and let me Find out in the comments which markets you like the most for 2023 and why you are optimistic about those cities as always, thank you.
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