The real property market in the United States has been flourishing lately. It does not seem as if this trend will come to a standstill any time soon. Estimates show that the prices of homes in most areas will continue to grow.
However, some analysts warn that high prices coupled with stagnant wages are reminiscent of the 2008 recession. Regardless, some cities had continuously remained resistant to recession. Keep reading if you’re interested in investing in real estate in cities that are least affected by the recession.
There are seventeen cities in the United States that have not experienced over 5% of a decrease in average real estate value. This analysis encompasses data from the year 1997 up until today. This article will cover the top three cities that come out on top in terms of resistance to the recession.
Real Estate Market: Victoria, Texas
Victoria hosts a big music festival annually and has a lot of historical sites to explore. From the year 1997 up until today, the largest decline in value amounted to only 2.78%. The fact that there is a 0% estimated chance of decreases in prices that are greater than 5% speaks for itself. While the value of real property keeps steadily increasing over the years, the median list price of homes in Victoria for 2018 was just below $200,000.
Real Estate Market: Cheyenne, Wyoming
Cheyenne is a beautiful city with an array of opportunities in the government, education, healthcare and security fields. Much like Victoria, based on the current data, the probability of a decrease in value is 0%. The value has decreased as much as 2.66% in more than two decades, while the median list price of real estate comes in at a little over $270,000.
Real Estate Market: Anchorage, Alaska
Finally, the city of Anchorage in Alaska comes in on top when it comes to resistance to recession. While the median list price for homes in 2018 averaged at $302,367, the largest decrease in value in over twenty years was only 1.52%.