December

TUCSON, AZ, NAMED AMONG THE FIVE BEST CITIES TO INVEST IN 2020

Peggie Simmons

As a real estate investor, your investment’s success is significantly influenced by the city you choose to invest in. If you want to have fast and excellent ROI on your investment, and witness long-term growth in value, you should consider where you are sowing your investments.

Data from experts show that in 2020, savvy investors are finding more peace in the secondary markets. This is unlike what we have been having previously where investors were more interested in the major markets such as New York City and Los Angeles.

Secondary markets are heating up with real estate activities as they experience job growth, population growth, and quicker appreciation, making them among the best real estate markets to invest in 2020.

In a recent Mashvisor article dated August 8, 2020, Tucson appeared among the top five emerging real estate markets/cities to invest in 2020. The list also included the Charlotte market, Jacksonville market, Boise market, and Huntsville market.

Tucson’s real estate market is boiling with extremely low housing inventory and overwhelmingly high demand. Tucson is the second–most affordable real estate market among the markets on the list. Moreover, the city’s economy is growing in length and diversity, with a steadily growing population. These trends indicate that the Tucson rental properties will continue experiencing fierce competition as experts project that the city will have a 3.3% growth in home prices this year. The median property price in Tucson is $296,547, while the price per foot is $169. The market has recorded an average of days for a house on the market to be 59 days. Thriving amid the pandemic.

Elsewhere, Tucson was also named among the top 10 cities in the U.S best positioned to thrive amid the COVID-19 pandemic. The report from Moody’s Analytics argues that the generation growing up today will remember the pandemic’s impact and be more likely to pursue careers and settle in less-densely populated places. In addition to population density, the report also considered the share of jobs requiring a college or graduate degree in 100 metropolitan areas. This indicates an economy’s ability to highlypaying jobs to its residents. The report also considered the share of residents with college degrees or higher in the cities.

Tucson is the only city from Arizona that made it to the top 10 list. Other locations in the list include; Washington, D.C., San Jose, CA, and Salt Lake, Utah.

Works cited

https://www.mashvisor.com/blog/emerging-real-estatemarkets-2020/. https://tucson.com/business/report-tucson-among-top10-us-cities-best-positioned-to-thrive-after-pandemic/ article_01403927-3387-5985-bca0-ae8c850f0dfb.html.