Cape Coral has been named among 2018’s best real estate markets.
Financial website WalletHub has placed it 60th among mid-sized cities in its ranking of Best Places to Buy a Home across the United States. It had an overall score of 57.26 out of 100.
Cape Coral was ranked eighth for Affordability & Economic Environment in the best real estate markets list.
WalletHub says, “Whether you’re joining the real-estate business or just looking for a place to call home, it’s important to get a handle on the housing markets you’re considering before investing in a property.
2018’s best real estate markets
“With unemployment falling and house prices rising, the market as a whole has been in a boom. But while home values are rising, up almost $16,000 on average just in the first quarter of 2018, fewer homes are being built and bought because mortgage rates are rising. However, home prices and rental rates vary widely across the U.S. based on supply and demand.
“If you aim for long-term growth, equity and profit, you’ll need to look beyond tangible factors like square footage and style. Those factors certainly drive up property values. From an investor’s standpoint, though, they hold less significance than historical market trends and the economic health of residents.”
To determine the best local real-estate markets in the United States, WalletHub compared 22 key indicators. These measured housing market attractiveness and economic strength. They ranged from median home-price appreciation to home sales turnover rate to job growth.
Each metric was graded on a 100-point scale, with a score of 100 representing the healthiest housing market.
Finally, WalletHub determined each city’s weighted average across all metrics to calculate its overall score.
The following population-size guidelines are used to group the cities:
Large cities: More than 300,000 people
Midsize cities: 150,000 to 300,000 people
Small cities: Fewer than 150,000 people.
In just the first quarter of this year, United States homeowners gained $1 trillion in home equity, according to real estate data specialist, CoreLogic. The average homeowner gained more than $16,000.