Top Wealth & Health Markets
According to the Local Market Monitor (LMM) from RealtyTrac® (RT), certain states offer more optimal opportunities for homeowners to enhance their personal “wealth and health” relative livable communities. RT claims that the LMM survey shows that certain communities in California, Texas, North & South Dakota, Utah, North Carolina, Tennessee, Montana, Wyoming, Iowa and Arkansas are the “top markets” that can best enhance a homeowner’s options relative to wealth and health. See the website listed below for charts that show the specific communities and criteria in the ratings.
The survey is divided into five broader categories under Lifestyle, Disease, Environment, Economy and Real Estate with these being further sub-divided into more specific criteria for consideration. In evaluating the livability of the major markets RT comments that, “Affordable homeownership with significant upside, robust economic growth and an active outdoor lifestyle are meaningful factors for all homebuyers, especially for families looking to relocate [to] other parts of the country.”
In regards to the outlook relative to the real estate wealth environment for these markets RT observed that, “Home prices bottomed out in most local markets over the past couple of years and are now on the upswing. In many places this upswing will be significant because prices are well below the levels that are ‘normal’ – not boom levels but the levels that local income can support. Put an economic recovery on top of that, add very little construction in the past five years, and you have a highly favorable situation for anyone looking for sustained increases in home value.” Additional factors in determining the overall wealth score included lower-than-average unemployment and high foreclosure discounts.
Ingo Winzer, President at Local Market Monitor, notes that, “Despite the somewhat modest national recovery, there are plenty of local markets with excellent economic growth and good potential for the long run. These are places where you’ll like to live, not just because investments in real estate or local businesses are more likely to be successful, but because they are dynamic places.”