Top 10 real estate markets by share of new-home sales
CoreLogic: 9 out of 10 metros are in the South
Editor’s note: In compiling the “10 Best Markets for Real Estate Investors” report, Inman News reached out to a range of data providers and online real estate sites that supplied statistics and charts to identify real estate markets that may be well-suited for investors. The following chart and accompanying methodology were provided by real estate information and analytics company CoreLogic.
Top 10 Markets for New-home Sales Share (2010)
Metropolitan Statistical Area New-home Sales Total Sales Total New-home Sale Share El Paso, Texas 2,425 9,701 25.0% Raleigh-Cary, N.C. 3,580 16,975 21.1% San Antonio-New Braunfels, Texas 6,891 35,407 19.5% Charlotte-Gastonia-Rock Hill, N.C.-S.C. 3,860 20,512 18.8% Austin-Round Rock-San Marcos, Texas 5,831 32,088 18.2% Jacksonville, Fla. 3,909 22,749 17.2% Des Moines-West Des Moines, Iowa 1,446 9,154 15.8% Charleston-North Charleston-Summerville, S.C. 1,464 9,622 15.2% Oklahoma City, Okla. 3,019 21,017 14.4% Nashville-Davidson-Murfreesboro-Franklin, Tenn. 3,380 25,342 13.3%
CoreLogic sorted the markets with the highest share of new-home sales. The analysis was performed on 2010 annual data for the top 100 markets with the most sales.
It’s very well-known that there are a lot of distressed markets and which markets they are. There is much less information on which markets are doing well. But instead of choosing performance, CoreLogic chose new-home sales, because if a market is near the top for new sales share then it’s most likely doing relatively well.
As you can see from the list, it’s middle-tier or large cities in the South that missed the boom and bust and are doing fine. The only exception is Jacksonville, Fla. — CoreLogic found some articles showing the new sales market there doing well. It might reflect a large influx of people coming into the city, which definitely had been the case prior to 2008.
Read the full report: “10 Best Markets for Real Estate Investors.”