Top 10 real estate markets by share of new-home sales
CoreLogic: 9 out of 10 metros are in the South
By Inman News, Friday, June 24, 2011.
Editor's note: In compiling the "10 Best Markets for Real Estate Investors" report, Inman News reached out to a range of data providers and online real estate sites that supplied statistics and charts to identify real estate markets that may be well-suited for investors. The following chart and accompanying methodology were provided by real estate information and analytics company CoreLogic.
| Top 10 Markets for New-home Sales Share (2010) | |||
|---|---|---|---|
| Metropolitan Statistical Area | New-home Sales | Total Sales Total | New-home Sale Share |
| El Paso, Texas | 2,425 | 9,701 | 25.0% |
| Raleigh-Cary, N.C. | 3,580 | 16,975 | 21.1% |
| San Antonio-New Braunfels, Texas | 6,891 | 35,407 | 19.5% |
| Charlotte-Gastonia-Rock Hill, N.C.-S.C. | 3,860 | 20,512 | 18.8% |
| Austin-Round Rock-San Marcos, Texas | 5,831 | 32,088 | 18.2% |
| Jacksonville, Fla. | 3,909 | 22,749 | 17.2% |
| Des Moines-West Des Moines, Iowa | 1,446 | 9,154 | 15.8% |
| Charleston-North Charleston-Summerville, S.C. | 1,464 | 9,622 | 15.2% |
| Oklahoma City, Okla. | 3,019 | 21,017 | 14.4% |
| Nashville-Davidson-Murfreesboro-Franklin, Tenn. | 3,380 | 25,342 | 13.3% |
Source: CoreLogic.
Methodology:
CoreLogic sorted the markets with the highest share of new-home sales. The analysis was performed on 2010 annual data for the top 100 markets with the most sales.
It's very well-known that there are a lot of distressed markets and which markets they are. There is much less information on which markets are doing well. But instead of choosing performance, CoreLogic chose new-home sales, because if a market is near the top for new sales share then it's most likely doing relatively well.
As you can see from the list, it's middle-tier or large cities in the South that missed the boom and bust and are doing fine. The only exception is Jacksonville, Fla. -- CoreLogic found some articles showing the new sales market there doing well. It might reflect a large influx of people coming into the city, which definitely had been the case prior to 2008.
Source: CoreLogic.
Read the full report: "10 Best Markets for Real Estate Investors."
View more charts provided by data companies and online real estate websites:
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