Hot Real Estate Markets 2017
The 10 hottest housing markets for 2017 as reported by Realtor.com. The top 10 are presented in rank order. To read the full article click here
The Phoenix area has a median price of $300,000, price growth of 5.94% and sales growth of 7.24%.
2) Los Angeles
The Los Angeles area has a median price of $675,000, price growth of 6.9% and sales growth of 6.03%.
The Boston area has a median price of $480,000, price growth of 6.09% and sales growth of 6.32%.
The Sacramento area has a median price of $420,000, price growth of 7.18% and sales growth of 4.92%.
The Riverside area has a median price of $350,000, price growth of 4.98% and sales growth of 6.88%.
The Jacksonville area has a median price of $284,000, price growth of 4.79% and sales growth of 7.03%.
The Orlando area has a median price of $272,000, price growth of 5.69% and sales growth of 6.1%.
The Raleigh area has a median price of $312,000, price growth of 4.16% and sales growth of 7.55%.
The Tuscon area has a median price of $237,000, price growth of 6.1% and sales growth of 5.47%.
The Portland area has a median price of $420,000, price growth of 6.55% and sales growth of 5.02%.
The top 10 real estate markets may not to be too surprising, since these trends are not drastically different from year to year. These are the places that are expected to see the strongest housing growth, affordable prices and high affordability, and employment growth.
There is however new research from the National Association of Realtors, that areas with lower cost of living, warmer weather and low taxation will see a higher than average influx of baby boomers. The baby boomer generation represents the largest generation by population about 80 million. Baby boomers are retire later, and in many cases working past 65. This sets to stage for large population shifts now and in the coming years. The top 10 metro areas that will be affected by this population shift is listed below, again listed in alphabetical order.
Albuquerque, Boise, Denver, Fort Myers, Florida, Greenville, South Carolina, Orlando, Phoenix, Raleigh, Sarasota, Florida and Tucson, Arizona. Other markets with strong appeal are Chattanooga, Dallas, McAllen, Texas, Riverside California and Tampa.