6 Out of Top 10 Hottest Real Estate Markets are in the West – Sacramento is #4!
Top 10 Metro Housing Markets
According to Realtor.com, who predicted a minor slowdown for the U.S. real estate market next year, most of the hottest metro markets are going to keep blazing in 2017. And where do they predict the heat to come from? Well, six out of the top ten hottest markets, are in the west! The western U.S. will continue to lead in prices and sales.
The top 10 in order are:
- Phoenix AZ
- Los Angeles CA
- Boston MA
- Sacramento CA
- Riverside / Ontario CA
- Jacksonville FL
- Orlando FL
- Raleigh NC
- Tucson AZ
- Portland OR
These top 10 markets have specific conditions in common
They all benefit from relatively affordable rental prices, low unemployment, and large populations of millennials and baby boomers. They are forecasted to see average price gains of 5.8% and sales growth of 6.3%, exceeding this year’s anticipated national growth of 3.9% and 1.9%, respectively. And while the limited availability of homes for sale continues to be a problem for home buyers, but an advantage to sellers, these markets are seeing growth in new construction that eases the supply shortage somewhat.
Here is the Sacramento valley, we have several areas experiencing high growth. The South 50 corridor from El Dorado Hills west, will start having homes on the market later this year. Rancho Cordova is growing in the Anatolia area and beyond. Elk Grove continues to expand south. Realtor.com actually expanded their list and western cities account for 11 of the top 25 metro markets on our list, including five in California. Again, this is just another source projecting our area to be a hot housing market this year. If you are considering buying or selling to move up, or even downsizing, get started today.
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