Accelerating home prices.
Expanding income and jobs.
In 2018, the hottest housing markets will boast a combination of these factors, according to Zillow, which recently released its predictions for the year. The markets in Zillow’s top 10:
- San Jose, Calif.
- Raleigh, N.C.
- Seattle, Wash.
- Charlotte, N.C.
- San Francisco, Calif.
- Austin, Texas
- Denver, Colo.
- Nashville, Tenn.
- Portland, Ore.
- 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.
Source: Suzanne De Vita, RISMedia