New York and LA lead the world for real estate investment

US elections, rate hikes keeping some investors at bay
  • Los Angeles barely squeezed past London to reach the no. 2 spot in sales volume in the first quarter of 2016.
  • New York, L.A., San Francisco, South Florida, Washington D.C. and Chicago all made the top ten.
  • Houston also made the top 20, enjoying continued growth since last year.

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New York City is a behemoth relative to the most of the world, especially when it comes to real estate. The Big Apple totaled $14,299,661,253 in sales volume in the first quarter of 2016 -- nearly double its closest competitor worldwide. The data comes from Real Capital Analytics (RCA), a privately-held international data and analytics firm that calculated the results based on the 30 largest world markets by sales volume in the first quarter. “The first quarter investment volumes show New York remains the biggest real estate market in the world, but in a change from the pattern established since the end of the financial crisis, L.A. has leapfrogged London to take second place," Tom Leahy, director of market analysis at RCA, said in a press release. Due to the changing global economic landscape, investors seem a bit more conservative in real estate overseas. London, previously in second position, was pushed out by Los Angeles thanks to L.A.'s strong first quarter. Sou...