Choosing The Best of Anaheim Real Estate
Located just outside of Los Angeles, the Anaheim real estate market has a lot going for it. Tourism, largely the result of Disneyland, will continue to create a need for jobs. The local economy, as a result, is more than encouraging and should bolster the housing market for quite some time. When all is said and done, Anaheim real estate investing has a promising future.
Real estate in Anaheim, CA has been booming for a couple of decades since a large part of Anaheim’s economy is dependent on tourism, as the city is home to Disneyland, one of the most popular theme parks in the world. Its share of tourism workers is roughly 50 percent higher than the statewide pattern. With almost thirty thousand workers, Disneyland is Anaheim’s largest employer. The county drew nearly 47 million visitors as recently as 2014. That is a seven percent increase in the last five years, according to Visit Anaheim data. Annual visitor spending reached $10.7 billion last year – up 50 percent from the mid-recession low of 2009. It is that cash flow that boosts both job growth and consumer confidence.
Less than an hour’s drive from downtown Los Angeles, the affluent Anaheim Hills neighborhood has plenty to offer homeowners, including a quiet atmosphere that’s within easy reach of Irvine’s commercial hub. As a result, homes don’t sit on the market for long here.
Anaheim’s economy has proven to be among the strongest in the nation during the first-half of the year. Despite hiccups in affordability, the Anaheim real estate market is one of the hottest housing markets in 2016, and the trend isn’t expected to slow down. Residents have experienced plentiful gains in the form of total home equity, as the last nine years have witnessed significant financial benefits lean in favor of homeowners. For example, Anaheim real estate purchased five years ago has appreciated by $247,768, compared to the national average of $82,353. Earned equity reached its highest in year seven, when homes appreciated by $325,510, whereas homes in other markets settled for $77,054. In addition, equity gains have increased by almost $100,000 in the last seven years. For Anaheim real estate investors and homeowners, the first-half of 2016 has been favorable, to say the least.
The Anaheim real estate market remains one of the hottest housing markets on the West Coast, along with San Francisco, San Jose, and Los Angeles. The median home price was $742,200 during the second quarter, compared to the national average of $239,167. Home appreciation simmered in the first six months of the year, as one-year and three-year rates increased to 4.1 percent and 13 percent. Better yet, gains in the last three years have extended the trend of positive price growth since the recession, which benefits homeowners, investors and investments alike. Real estate in Anaheim, CA continues to soar and looking forward, the remainder of 2016 should see greater price growth in the Anaheim real estate market than in the rest of the U.S. According to the National Association of Realtors (NAR), Anaheim real estate is forecasted to grow by four percent, compared to the national average of 3.6 percent.
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