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| The Hottest Housing Markets This Year |
RECBL - Real Estate News
The US housing market has regained its momentum.
About half of all homes in the country are worth as much or more than they were in April 2007, during America's most recent housing boom, according to data from Zillow.
But some real estate markets are really on fire, with quickly rising home values and rental prices, increasing populations, low unemployment rates, steady income growth, and strong job opportunities, according to Zillow's latest housing report.
Below, check out the top 10 hottest real estate markets in America for 2018, along with median home values and rent prices, median household income, and projected year-over-year growth.
1. San Jose, Calif.
2. Raleigh, N.C.
3. Seattle, Wash.
4. Charlotte, N.C.
5. San Francisco, Calif.
6. Austin, Texas
7. Denver, Colo.
8. Nashville, Tenn.
9. Portland, Ore.
10. Dallas, Texas
Analysts based the list off the Zillow Home Value and Rent Forecast, which is the change projected in the Zillow Home Value Index (ZHVI) and the Zillow Rent Index (ZRI) for the coming year, as well as employment, income and population statistics from Glassdoor.
"This list shows that just because a market is smaller or more affordable doesn’t mean it isn’t dynamic," says Aaron Terrazas, senior economist at Zillow. "Growing cities in the Sun Belt, places like Raleigh, Charlotte and Nashville, offer plenty of opportunities in healthcare and finance, while providing a less-expensive, but still-convenient alternative to the larger and pricier markets in the Northeast. The tech industry continues to roar, attracting thousands of new residents per year to tech-dominant markets like Seattle, Denver and the Bay Area. The higher cost of living in these areas is offset to a large degree by well-paying tech jobs."
Across the top 10, analysts anticipate home values will increase between 3 and 8.9 percent in the next year-8.9 percent in San Jose, and 3 percent in Denver. The complete forecast:
For more information, please visit www.zillow.com.
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