Cleveland Ohio’s Real Estate Industry in 2019
The term ‘real estate’ means physical property. Real estate industry covers all Four (4) Types – Residential, Commercial, Industrial and Land. Thus, the industry includes – Construction of new buildings, New home building, Real estate agents (both for buyer and seller), and Real Estate Investing.
Statistics about new home construction are important as leading economic indicators. It shows how the real estate industry is doing business in certain areas or states. That means they will give you a heads up on the future of the housing market in the real estate industry in 2019. Today, the real estate industry is one of the most lucrative sectors of the U.S. economy, and it continues to provide opportunities for interested and motivated individuals.
Looking at Real Estate Industry in Cleveland, Ohio, this amazing place offers great opportunities for investors, especially for those looking for an affordable investment, solid monthly cash flow, and consistent equity growth, without too much risk. And for 2019, most real estate investors will want to stay away from the cities with soaring prices, where they’re more likely to end up holding the bag than to strike it rich. And there a few more reasons to love Cleveland:
- Fastest growing healthcare economy in U.S. (and home to world renowned Cleveland Clinic)
- Nation’s first Global Center for Health and Innovation as well as a new medical convention center
- 10 Fortune 500 company headquarters, including: Goodyear Tire, Cliffs, Natural Resources, FirstEnergy, Sherwin Williams, Eaton Corporation, Travel Centers of America, Aleris, Parker Hannifin, Progressive Insurance, and KeyCorp
- Has the 2nd largest live theater district in the U.S., second only to New York City
- Home to three major sports teams that bring billions of dollars to the area every year
- It’s easy to buy B neighborhood properties for as low as $70,000 and turn that into $800 a month; Properties remain well below mid-2000 prices in most areas.(source: https://www.realwealthnetwork.com/markets/cleveland-ohio/)
Cleveland Ohio’s Real Estate Industry in 2019 boast of its strongest real estate markets for the said year, including: job growth, population growth, and equity growth potential. The low home prices in Cleveland, encourage you to buy large single-family homes and split them into several rental units. Cleveland’s local markets are just as busy and will continue to be. And as opportunities become available, investors have to react quickly and often find themselves in competitive situations to win a deal. This industry can fluctuate depending on the national and local economies, although it remains somewhat consistent due to the fact that people always need homes and businesses always need office space.
Finally, we are seeing investors from New York, Chicago, Los Angeles and etc., that are excited about Cleveland’s upward momentum, stable workforce and relatively low cost of living. It’s going to be another exciting year for Cleveland’s real estate industry in 2019!
And if you want to know more about this industry, contact us at 216-282-4332 or send us an email at email@example.com. CPD Homes is a Cleveland, Ohio based company here to help homeowners out of any kind of distressed situation. Whether you are a struggling landlord, or just want a sound investment yielding significant ROI, we are here to help. Call us now and we’ll be more than ready to assist you with Cleveland’s real estate industry in 2019!