Houston and Dallas were named “low risk” markets for real estate investment by HomeVestors in its quarterly survey released on Wednesday.
The company, known for its “We Buy Ugly Homes” tagline, compiled the national survey based on factors such as population, unemployment, job growth and 12-month home price forecast.
Quoted in the Houston Chronicle, HomeVestors co-president David Hicks described residential real estate as, over the long term, “some of the best investment people could make.”
Hicks, who recently spoke at the National Association of Real Estate Editors conference in Atlanta, cited residential real estate acquisitions by start-up investment firms, institutional investors and hedge funds as signs of the market’s appeal.
However, he did caution that many of the hedge funds purchasing homes in bulk lack an understanding of the local market, which may lead them to overpay.
Despite this, Houston and Dallas still rank as solid markets to invest.