Real estate agents are only as successful as their market is busy. So if you’re considering becoming a real estate agent, or you’re looking to relocate to improve your real estate business, you need to work in the hottest real estate housing markets available. While some popular real estate markets stay constant, there are always cities jumping around the list of the best places to purchase real estate. Before we dive into our list of the most popular real estate markets (and therefore the best places to be a real estate agent), let’s take a look at some of the real estate trends we’ve seen pop up in the past couple of years.
Recent Trends in Real Estate
The COVID-19 Pandemic
The COVID-19 Pandemic significantly impacted real estate markets in the first half of 2020. Health Safety and Stay-At-Home Orders led to fewer people willing to list their home for sale and purchase real estate.
However, during the summer months of 2020, real estate markets rebounded with more active buyers and sellers in the market than in the Winter and Spring.
While the pandemic had a negative impact on many individual's willingness to buy or sell, there are many areas that have emerged and thrived in real estate. These include the following:
- International buying will continue to decline
- Rental properties and vacation homes will continue to thrive
- Technology will continue to make the real estate industry easier to navigate for agents, buyers, and sellers
The Rise of Secondary Markets
The COVID-19 Pandemic shifted the work-force toward a permanent transition to remote work. As a result, many individuals are moving from big cities to smaller secondary real estate markets.
The secondary real estate market consists of smaller cities that either stand by themselves, or are adjacent to those hot primary markets. Many residents of primary markets are looking to make the move to secondary real estate markets where their chances of finding the perfect home are much higher. Additionally, people looking for a fresh start are choosing secondary markets as opposed to the often over-populated primary markets for the same reasons.
Coastal Moves
If you’re looking to stretch your money and get the largest bang for your buck, you’re not going to want to move to the coast, you’ll want to move to the middle of the country. Many Americans are making the move from their coastal homes in California, Florida, and New England to places like Ohio, Texas, and Tennessee. Not only are these inland states experiencing a boom in jobs, but the cost of living is significantly lower than some of the nation’s coastal states. These trends are making inland states more attractive than ever. The real estate trends of the past decade have set the real estate stage for 2019. In fact, PwC reports that over the next five years, the nation’s largest cities like Los Angeles, New York, and Chicago are only going to see a .2% growth. On the other hand, secondary markets like Phoenix, Charleston, and Boise will see a growth rate of 1.6%. That being said, let’s dive into the nation's hottest markets and the best places to be a real estate agent!
Where Are the Best Cities to Be a Real Estate Agent?
These are the 10 best cities to be a real estate agent because of their growing residential popularity, increase in job availability, decrease in job competition, and overall real estate market health.
- Seattle, Washington
- Sacramento, California
- Salt Lake City, Utah
- Denver, Colorado
- Nashville, Tennessee
- Huntsville, Alabama
- Austin, Texas
- San Jose, California
- Reno, Nevada
- Portland, Oregon
- Atlanta, Georgia
Now we’ll take a look at these cities individually, but first some housekeeping items. Most of the following statistics are from PwC (PricewaterhouseCoopers), while the population statistics are from worldpopulationreview.com. For further context and for comparison purposes, here are the national averages of population and employment growth.
- 5-Year Projected Population Growth: 0.7%
- 5-Year Projected Employment Growth: 0.6%
Dallas
- 2019 Population: 1,379,735
- 5-Year Projected Population Growth: 1.7%
- 5-Year Projected Employment Growth: 1.4%
Austin
- 2019 Population: 1,001,104
- 5-Year Projected Population Growth: 2.3%
- 5-Year Projected Employment Growth: 2.0%
Fort Worth
- 2019 Population: 913,939
- 5-Year Projected Population Growth: 1.7%
- 5-Year Projected Employment Growth: 1.4%
Columbus
- 2019 Population: 890,228
- 5-Year Projected Population Growth: 0.8%
- 5-Year Projected Employment Growth: 0.7%
Charlotte
- 2019 Population: 889,019
- 5-Year Projected Population Growth: 1.5%
- 5-Year Projected Employment Growth: 1.3%
Denver
- 2019 Population: 732,144
- 5-Year Projected Population Growth: 1.3%
- 5-Year Projected Employment Growth: 1.2%
Nashville
- 2019 Population: 679,318
- 5-Year Projected Population Growth: 1.4%
- 5-Year Projected Employment Growth: 1.3%
Las Vegas
- 2019 Population: 664,304
- 5-Year Projected Population Growth: 1.4%
- 5-Year Projected Employment Growth: 1.7%
Atlanta
- 2019 Population: 501,178
- 5-Year Projected Population Growth: 1.3%
- 5-Year Projected Employment Growth: 1.0%
Boise
- 2019 Population: 231,773
- 5-Year Projected Population Growth: 1.6%
- 5-Year Projected Employment Growth: 1.3%
Ready to Start Your Real Estate Career?
Now that you have a better idea of the best places to be a real estate agent, are you ready to take the plunge into a new career? The best way to prepare yourself for a career in real estate is to start with a Real Estate Pre-License CoueE. Sign up for your course today!
Written and Published by: VanEd
