The Top 10 Cities for Real Estate Agents

Location, location, location. The most common saying in real estate remains as true as ever. A home buyer values location, first and foremost, above anything else the house might have to offer. The house might have the perfect number of bedrooms and bathrooms, but what good are they when the home is located in a neighborhood that lacks easy access to the highway, or has an inferior school district?

Real estate agents are also looking for the best regions. They go through the same process as home buyers, except they look at a few different factors. How can you, as a real estate agent, determine if you’re in one of the best markets?

Home turnover rate (the % of homes sold in a city in the past 12 months)
Market heat (the measure of % change in median homes sales price from the past two years)
Competition (the number of homes sold per agent within the past 6 months)
Salaries (the median salaries for real estate agents in the next closest major city)

Taking all of this into account, here are the 10 best cities for real estate agents to currently succeed in:

HOUSTON, TX – Texas is the largest state in the contiguous U.S. and Houston is fast becoming it’s “must live in” city. Which means agents must love working there. Over the past few years, it has been a top housing market performer and 2015 is continuing to prove this. The economy is top-notch thanks to their energy industry. Being Texas’ most populous city hasn’t hurt economic job growth. In fact, it’s setting new employment records. Houston is expected to continue it’s robust housing growth, and construction, for the rest of the decade.

DALLAS/ FORT WORTH, TX – That’s right. Texas is so huge, we haven’t left yet! And judging from some numbers, real estate agents shouldn’t leave any time soon. While the area has twenty billionaires, it hasn’t had its housing prices get too crazy. The region’s employment numbers are very solid, and the market is affordable, which has led to a rush of new households. Dallas/Fort Worth has a strong construction market and that helps to contain any worry over housing supply pressure.

DENVER, CO – The city is enjoying a “high” in housing numbers, which makes it very profitable for real estate agents. Denver is currently seeing some of the largest percentage increases in home sales of any major market. It’s local economies have boomed since the recovery began and is now setting new records for job growth. Denver is well known for some beautiful homes in their suburbs.

SAN JOSE, CA – Real estate agents in Silicon Valley? $$$$$$! In a bit of surprising news, San Jose actually outperforms San Francisco when it comes to economic and housing growth. Of course, with its location in the heart of a world-class technology community, it’s no shock that unemployment has remained low. What might come as a shock is that housing is more affordable than you may think. With well-paying jobs and affordable housing available, it’s easy to see why agents love to work in San Jose.

NEW YORK CITY, NY– I know, I know. The minute you think about living in NYC, you see all your money going away. The Big Apple does have some expensive real estate, and it is getting more expensive due to price increases in the past couple of years. This is why NYC real estate agents are some of the best-paid in the USA. Despite the high prices, people still want to live in the “city that never sleeps”.

LAS VEGAS/HENDERSON, NV– People actually live in Las Vegas? Yes, they do. It’s called Henderson. Sin City’s real estate agents are enjoying a housing market with a large turnover rate. That’s a pretty hot market, and we aren’t even talking about the weather. It’s not a new trend either. Las Vegas/Henderson housing prices shot up 24% from 2013 to 2014, and its 10% housing turnover rate is one of the highest among major U.S. cities. It’s not a risky bet to be a real estate agent in Vegas.

AUSTIN, TX – Always back in Texas, aren’t we? Think of Austin as the really cool younger sibling in a big family. It was declared “one of the best housing markets to invest in” this year by Forbes. Real estate agents over in Austin are learning how first-time homebuyers are making a huge difference. This is due to a very strong job market and huge population growth. Not to mention diversified economies, and relatively low housing prices. Austin is for millennials.

LOS ANGELES, CA – LA has to deal with some of the same financial stereotypes that NYC does. The truth is that Los Angeles hasn’t fully recovered from the recession. And LA ranks as one of the least affordable cities in the nation. Ready for the good news real estate agents? It doesn’t matter! It is the second largest city in America and people still move there. Can’t beat that weather!

PHOENIX, AZ – The west invasion continues for where real estate agents are thriving. For decades now, Phoenix has dominated home market growth. This has been because of consistent new construction. It’s one of the top five markets for new construction, year-in year-out. The desert continues to see an increase in overall population and household growth. Even when the housing market is slowing down, Phoenix still doing well.

WASHINGTON D.C. – Thought we forgot about the heart of democracy? Our nation’s capital didn’t suffer as much during the recession as other major cities. Home sales have rebounded very nicely over the past few years. Should we thank Netflix and House of Cards for this renewed interest in living in D.C.? Probably not. The district ranks third overall in projected growth of home-owning households over the next five years. This should make local real estate agents feel very patriotic.