Vital data for US real estate investors
February 5, 2021
Important report from Redfin.com – 28% of Redfin users looked to move to another metro area in 2020 up 25%+ from 2019, not surprising given the pandemic and most experts agree the trend will not subside.
Who’s leaving where, and where are they going?
Not surprisingly the biggest net outflows are expensive coast cities like NY, LA and SF but also Chicago, Detroit and Seattle. Surprisingly despite big news on Miami, it’s a top 10 net loss metro as well.
Where are Americans moving?
Phoenix and Dallas take top 2 with Orlando and Tampa coming in 3rd and 4th. We however view Orlando and Tampa as a larger metro Central FL market, with many amazing submarkets. Just Orlando+Tampa easily become #1. Like Texas and other hot markets, FL has favorable landlord and tax laws. However, FL is much more affordable with Orlando and Tampa the only markets with average medium home prices below $300,000.
Many Wizards students, like me, are investing in and building wealth through real estate.
Real estate is the slow but sure way to wealth.
And property prices are always driven but population and job growth.
As per Commandment 9 of our book, Respect Market Cycles, follow the data, and carpe diem.