HomeVestors ranks Austin as top market for single-family home investors

Dec 31, 2014
Austin Business Journal

Dallas-based HomeVestors has ranked Austin as the top market in the U.S. for single-family home investors

Several other Texas cities made the list: Houston, No. 2; San Antonio, No. 7; Dallas, No. 14; and Fort Worth, No. 16

"Texas has always been a sweet spot for real estate investing. Its economy is strong and only getting stronger," said David Hicks, HomeVestors co-president, in an announcement

Hicks, in an announcement distributed Dec. 30, says Austin represents the best opportunity to make money as a single family home investor because of job growth and "relatively low home prices." HomeVestors says the average home price in the Top 10 markets is under $300,000

That doesn't quite jive with the latest data from the Austin Board of Realtors, which indicates that the average home price in the Austin metro area is $311,222, 6 percent more than November 2013. Through most of the year, Austin home sales have recorded appreciation rates in the double digits

Generally, the more rapidly home prices escalate the more difficult it is to make a profit on rental properties. Still, Hicks touts Austin as a sure bet

Tracking the single family investor market isn't a particularly easy undertaking, though I had a much keener sense of the opportunities for this kind of investment as a real estate reporter for the Phoenix Business Journal. Since moving to Austin almost three years ago, I haven't detected that this is a strong market niche here, but I could be wrong

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