US rentals are on the move as almost two-thirds of tenants plan to relocate. Sunbelt states such as Florida and Texas are top favourites.
Latest figures for homeownership in the US point to a slight increase in the rate in Q2 this year. More millennials bought homes between April and June, pushing the homeownership rate up in this group. Traditionally the strongest sector in the US rental market, they are about to be joined by Generation Z, a whole new target for rental properties.
Two studies reveal that the US rental market requires a massive injection of properties over the next two decades to meet burgeoning demand. Based on current trends, the US needs 4.6 million more apartment units by 2030 to satisfy demand from rental households.
US buy-to-let property is not only big business for small investors; large investment funds have recently joined them in the bid to obtain yields from America’s buoyant rental market.
Supply on the US property market currently stands at its lowest level ever. This shortage creates an ideal market for buy-to-let opportunities.
Florida ranks high in the listings for the best places for single family rentals in the US. The metro areas of Orlando, Jacksonville and Tampa feature across the board for opportunity, high demand and capital rate ranking. This latest research confirms the excellent potential for buy-to-let properties in Florida.
The end of the year means investment prediction time. The latest Emerging Trends in Real Estate forecasts which US property markets are the ones to watch in 2017. Unsurprisingly after an excellent 2016, Florida property is one to keep a keen eye on.
Figures released for US property prices in August point to another rise and bring the market close to its peak reached in July 2006. Prices went up across the board with some markets showing considerably higher increases.
Property analysts are unanimous in that 2016 has been one of the best years for the US housing market since the crisis. With the sector already looking forward to more of the same next year, now is a good time to take a look at some forecasts for the trends in the US property market in 2017.