For those of us in real estate, and on the ground-level everyday in North Idaho, we have known Coeur d'Alene, Idaho is one of the fastest growing and most competitive real estate markets in the country.
The attractiveness and quality of life in Coeur d'Alene draws not only retirees and young families, but investors looking for second homes and investment homes with both passive income and equity growth potential.
Well, that is no longer just local knowledge, it is now National news!
In a collaborative effort, The Wall Street Journal and Realtor.com, created an index to show "homeowners and real estate investors alike the best and brightest areas to invest."
The Emerging Housing Markets Index uses a combination of data which include:
1) Housing Market Growth
2) Economic Vitality
3) Quality of Life
These metrics identify areas that are expected to see strong home price growth and, at the same time, offer attractive lifestyle amenities.
The index analyzed data for the largest 300 metropolitan areas in the United States.
When the dust settled, Coeur d'Alene, Idaho was the #1 emerging real estate market in the country.
The index was wise to point out, however, "By definition these areas have strong housing demand and somewhat limited housing supply. These factors have contributed to strong recent home price growth and are expected to continue to push home prices higher. These top 10 markets have seen home prices appreciate by 27 percent on average in the last year, compared to an average of 14 percent across all markets. These areas are not especially affordable, with median home listing prices averaging $519,100 for the top emerging markets compared with $366,100 among the whole list of 300 markets."