Salt Lake was recently named 7th in the top 10 markets for real estate investors. The top 10 cities were:
1. Indianapolis-Carmel, Ind.
2. Winchester, Va.-W.Va.
3. Gainesville, Fla.
4. Tucson, Ariz.
5. Tallahassee, Fla.
6. Hagerstown-Martinsburg, Md.-W.Va.
7. Salt Lake City, Ut
8. Richmond, Va.;
9. Gainesville, Ga.
10. Winston-Salem, N.C.
The study by Inman News took into many criteria, including economic, housing and demographic data. The analysis considered markets with high affordability, low and dropping prices, a high market share of foreclosure sales, high population growth, an improving unemployment rate that is close to or better than the national average, high projected return on investment (ROI) over the next decade, and a low total cost of ownership-to-rent ratio.
The Salt Lake City Real Estate Market was positioned high on the list due to its low unemployment rate and high population growth.
Most of the 10 top markets were in the South and West of the country, which is what you would expect given that they were hit the hardest during the downturn.
One interesting fact mentioned in this study was that investors seemed to be more confident about the housing market than homebuyers, with 77% of investors saying it was a good time to buy, compared to 68% of homebuyers.
You can read this Salt Lake City 7th Best Market for Real Estate Investors post on my real estate blog.