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The past few years saw the real estate and housing market remain healthy by most evaluations, and affordability is just right, neither under nor overvalued. Because of these factors, many are optimistic and believe there are no signs of a downturn in the coming years. But where is the market booming right now? A report released by the Leading Index of Healthy Housing Markets (LIHHM) shows that markets in the Upper Midwest are among the best performers.

EXIT Realty Upper Midwest offers valuable insight on the Upper Midwest’s potential, a region lush with real estate career opportunities and entrepreneurship.

Economy

The Upper Midwest economy is expected to grow quickly, as it sees a drop in unemployment, a faster rate of job growth, and an increase in wages. Business leaders are quite optimistic about the outlook in the area, especially in Minnesota, making it the perfect time to begin a real estate career. 

Commercial Real Estate

real estate careerThe past year saw relative stability and the real estate market performed quite well, so it’s an excellent time to buy commercial property. There were slight rent increases, but plenty of bank-owned properties sitting on the market disappeared.

In Upper Midwest states like Minnesota, the industrial market has been strong, so investors have a positive outlook. For 2016, financing for commercial real estate has been readily available and interest rates are low, allowing business owners to get longer-term rates and leases.

Housing

The apartment market continues to do well in the Midwest, in spite of predictions to the contrary. Occupancy levels and rent have increased because of demographic and cultural trends, mostly driven by millennials renting for much longer and baby boomers who are downsizing. The starter home or single-family house market is also pretty competitive, with a lot of young people buying in suburban areas.

With a strong economy and an upswing in real estate, there are a lot of opportunities for building real estate careers in the region. EXIT Realty Upper Midwest has franchises in Iowa, Minnesota, North and South Dakota, and Wisconsin. If you’re interested in the real estate business, call (612) 414-4022 or go to their website for more information.

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