Two real estate markets still look like they’ve got room to grow in 2023, even as home prices face downward pressure for high mortgage rates and days on market begin to creep up. Markets like these two exploded in 2020-2022 and are still seeing strong demographic signs that more growth could be on the way. But, as two markets that have witnessed some of the most dramatic price appreciation in history, is now a worthwhile time to invest?
In this episode, we’re doing a market deep dive into two hot housing markets, Tampa, Florida, and Dallas, Texas. These two metro areas saw population booms like never before, shooting their home prices high and keeping competition hot, even as rates rise. But are these two markets starting to see a slowdown in 2023, or are there surefire signs that another wave of buyer activity is about to take place? With so many Americans moving to Texas and Florida, could this be the appreciation play of a lifetime?
We’re joined by Kim Meredith-Hampton and Victor Steffen, realtors in the Tampa and Dallas areas, respectively, to talk with David Greene and Dave Meyer about the potential of these two property markets. They’ll touch on how to find cash flow even with high home prices, the strategies they’re using today to lock in wealth-building buys for their clients, and why the days of bidding wars and buyer ferocity may be far from over.
David Greene:
This is the BiggerPockets Podcast show, 766.
Kim Meredith-Hampton:
2022, we were the top area, Tampa MSA. We had a net migration of 1.9. Tourism is big, maritime industry, healthcare big here.
Victor Steffen:
I look for population growth in a market. I look for median wage growth in a market, and I also look for employment growth. And Dallas-Fort Worth has all three of those metrics going up into the right.
David Greene:
What’s going on everyone? This is David Greene, your host of the BiggerPockets Real Estate Podcast here today with one of my favorite co-hosts, Dave Meyer. Dave, what’s…