Prospective homeowners who are looking to purchase a new property or relocate can now utilize a new report released by RealtyTrac and Local Market Monitor that analyzes the top-10 markets for family health and wealth.
According to the report, the best states for good health and building real estate wealth are Texas, North Dakota, South Dakota, Utah, North Carolina, California, Tennessee, Montana, Wyoming, Iowa and Arkansas.
“While families have many good options across the country in terms of places where healthy living is evident and the prospect of appreciating home prices is solid, there are some markets that clearly stand head and shoulders above the rest,” said Daren Blomquist, vice president at
Blomquist added that all of these markets have strong appreciation potential and some are “healthier than others.”
The health ratings are based on 10 factors such as lifestyle, chronic disease rates, the environment, the economy and real estate information. These data came from RealtyTrac and each factor was then compared to an average across a large number of U.S. markets.
Meanwhile, Local Market Monitor’s data for home price appreciation helped identify the best places for building real estate wealth. The factors of lower-than-average unemployment and high foreclosure discounts were used to determine the overall wealth score.
By combining this data, the report’s results determined what the top markets are for both good health and building real estate wealth.
“Affordable homeownership with significant upside, robust economic growth and an active outdoor lifestyle are meaningful factors for all homebuyers,” said Steve Roney, CEO and owner of Prudential Utah Real Estate.
Most local markets have seen home prices bottom out over the last couple of years and are now on the path towards to recovery. In many places, this upswing will be significant because prices are well below “normal” levels compared to the housing boom, but are currently able to support a homeowner’s income.
“We’ve never seen a real estate recession like the one we just went through,” said Ingo Winzer, president at Local Market Monitor. “The good news is that there are local markets where the crash is not only over, but where the lack of home construction in the last five years and a resurgence of economic growth will create a shortage of housing and a surge in home values.”
