These 20 Hottest Housing Markets Will Make Waves in 2016
The housing market is heating up and some areas are predicted to be red hot. More buyers are entering the housing market and there just won’t be enough inventory to meet demand. A large number of buyers have waited for housing prices to level off before getting back into the real estate market, and now with home prices becoming more stable, the buyers are returning. There will also be more choices for homes on the market as more sellers take advantage of the rising home prices to finally list their properties.
Zillow is predicting the demand for more than 6 million home sales from April to September. While this energy in the market won’t reach all parts of the United States, cities such as San Francisco, Boston and New York City with accelerating employment will be the hottest markets. In all three of these cities, the trend is for a relatively balanced ratio between leveled-off housing prices and supply that is roughly in step with demand. Investors are also looking to the foreclosure market in these cities and there has been a strong uptick in the acquisition of foreclosed and pre-foreclosed properties. San Francisco, Boston and New York City will continue to lead the country in recovery, as each has a housing market that does not look like it will be slowing down anytime soon.
Increasing demand in smaller cities. There is also an increasing demand for homes in urban areas that are near growing businesses, have shorter commutes, and have lots of activities for both families and young professionals. These smaller, less-well-known urban areas are being predicted by economists and real estate experts to be very hot markets with more listings that are moving faster than the national average.
~Providence, Rhode Island-Warwick, Massachusetts
~St. Louis, Missouri (and into Illinois)
~San Diego-Carlsbad, California
~Atlanta-Sandy Springs-Roswell, Georgia
~New Orleans-Metairie, Louisiana
~Charlotte-Concord-Gastonia, North Carolina (and into South Carolina)
~Virginia Beach-Norfolk-Newport News, Virginia (and into North Carolina)
~Boston-Cambridge-Newton, Massachusetts (and into New Hampshire)
For affordability and strong job growth, these are the regions where more people are inbound than outbound and have markets that are going to be heating up in 2016:
~Grand Rapids-Wyoming, Michigan.
~Charleston, South Carolina.
~Baton Rouge, Louisiana.
~San Antonio, Texas.
~Colorado Springs, Colorado.
~Columbia, South Carolina.
~Riverside-San Bernardino, California.
~Las Vegas, Nevada.
The great news is that these hot real estate markets are located throughout the country and represent opportunities for both buyers and sellers in a wide range of cities.
So here’s to a hot, hot, hot 2016 real estate market! Let me know how I can help!
Powered by HomeActions for Laura S. Rossinow, Broker, Keller Williams Realty, Newton, MA