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| Don Ganguly |
OAKLAND, CA — Mynd Management, a tech-enabled property management and real estate investment company serving the single-family rental (SFR) housing market, announced the 20 best housing markets for sellers in 2021.
For the study, Mynd Investor Services, a full-service platform and marketplace for real estate investors, analyzed year-over-year home price appreciation (HPA) trends from 2019 to 2020 in hundreds of metro areas nationwide.
The three best housing markets for property owners seeking appreciation are Milwaukee, WI, Memphis, TN, and Detroit, MI.
Milwaukee HPA skyrocketed 17.9%, while Memphis prices jumped 16.6% and Detroit metro area HPA increased 15.4% in 3Q 2020 year-over-year.
“While 2020 was an incredibly challenging year for many industries, the real estate sector remained resilient,” says Don Ganguly, senior vice president of Mynd Investor Services. “Historically low-interest rates, a shortage of new housing inventory and limited new construction have contributed to rising home prices nationwide.”
In 2020, the reversal of a decades’-long trend in the real estate investment market emerged: The leaders in home-price appreciation growth shifted to more suburban areas, away from the coasts.
“The significant increase in remote work spurred by COVID-19 has enabled many U.S. employees to live wherever they want, a trend that will likely continue this year,” Ganguly adds. “The Coronavirus has prompted families and businesses alike to leave high-priced cities like San Francisco, New York and Los Angeles. As a result, they’re acquiring properties in more affordable locations, such as the ones in our study.”
The top 20 real estate markets for sellers in 2021 are:
METRO AREA | 2020 | 2019 | Home Price Growth |
Milwaukee, WI | $171,000 | $145,000 | 17.9% |
Memphis, TN | $176,000 | $151,000 | 16.6% |
Detroit, MI | $187,000 | $162,000 | 15.4% |
Columbus, OH | $215,000 | $189,000 | 13.8% |
Phoenix, AZ | $310,000 | $273,000 | 13.6% |
Tacoma, WA | $395,000 | $350,000 | 12.7% |
Indianapolis, IN | $213,400 | $189,375 | 12.7% |
Kansas City, MO | $240,250 | $213,750 | 12.4% |
Miami, FL | $320,000 | $285,000 | 12.3% |
Seattle, WA | $605,000 | $540,000 | 12.0% |
Cleveland, OH | $145,500 | $130,000 | 11.9% |
Tampa, FL | $229,000 | $205,000 | 11.7% |
Palm Beach, FL | $285,000 | $256,000 | 11.3% |
Tucson, AZ | $239,000 | $215,000 | 11.2% |
Atlanta, GA | $249,900 | $225,000 | 11.1% |
Chicago, IL | $255,000 | $231,000 | 10.4% |
Cincinnati, OH | $182,000 | $165,000 | 10.3% |
New Orleans, LA | $236,950 | $215,000 | 10.2% |
Riverside, CA | $396,000 | $360,000 | 10.0% |
Washington, DC | $440,000 | $400,000 | 10.0% |
Sources: Mynd Investor Services, U.S. Census Bureau, Precisely, County Recorders’ & Assessors’ Offices
About Mynd Management
Mynd Management serves the small residential real estate sector with a combination of on-the-ground experts and innovative technology that empowers investing in any market in the U.S.
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| (Courtesy Amazon.com) |
Headquartered in Oakland, Calif., Mynd manages nearly 6,500 units in 19 regions and offers properties for sale in 20 metro areas. Mynd’s full-service platform and marketplace for real estate investors are powered by Mynd Investor Services.
Contact:
Stacey Corso
stacey.corso@mynd.co
Phone: (415) 672-6460
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