Top 10 Housing Markets Of 2015
– Depending on the website, article or news channel you land on, you will find a variety of observations as to what are the top 10 housing markets within the United States in 2015. One can become inundated with different top 10 real estate lists varying with several different criteria.
A recent report from Trulia showed their top 10 “fastest moving markets” for the past two months and the Golden State of California is home to eight of them. Other reports show a more diverse mix of top 10 real estate markets across the country.
According to a report from Realtor.com, the following are the Top 10 Housing Markets of 2015:
1. Atlanta, Georgia
Low home prices are drawing in first-time homebuyers as the market continues to see recovery. While still remaining affordable, home sales within the city are forecasted to increase by 11 percent in 2015. The Atlanta real estate market was one of the hardest hit by the housing recession and, as a result, has taken the longest to recover over any other major housing market.
2. Dallas, Texas
This lone star state city continues to see strides due to higher employment rates and a strong economy. Everything is bigger in Texas and why not the housing market in Dallas? The Big D landed a spot in the top 10 housing markets for 2015 due to sales being at an all-time high and home prices on the rise.
3. Denver, Colorado
Rooted in a strong local economy, the Denver area offers fantastic job growth and below average unemployment rates. One forecast predicted the homes sales growth of 14 percent in 2015 alone.
4. Des Moines, Iowa
With the national median-priced home coming in at $221,000, Des Moines Iowa offers affordability. The median-priced Des Moines home costs only $180,000 which is good news for homebuyers. Especially millennials who are expected to be large players within the market.
5. Houston, Texas
Supply is keeping up with demand due to the increase of new construction. While the energy industry may be seeing some changes, the employment continues to be strong with jobs being added at twice the national rate.
6. Los Angeles, California
The median home price is $460,000 within the metro area which is over twice the national median. With a metro area population of over 13 million, the Southern California market is booming. Absentee buyers and investors are also contributing to the rising home prices.
7. Minneapolis, Minnesota
Ranked as the 46th largest city in the United States, Minneapolis offers affordability, a low unemployment rate, a higher household income level and younger generations entering the housing market. Millennials especially find the Minneapolis real estate market extremely appealing.
8. Phoenix, Arizona
Post housing crash, the Phoenix market saw prices plummet almost 60 percent. New construction has increased and Phoenix is once again becoming a hot market. Supply remains tight as housing prices and sales are on the rise.
9. San Jose, California
The Silicon Valley is seeing skyrocketing prices making it one of the priciest and hottest in the state with many homes selling over asking price. The median home price in San Jose is over four times the national average coming in at $900,000.
10. Washington, D.C.
Boasting a thriving tech sector and an extremely diversified economy, the Washington D.C. area is poised to be at the top of the list for new household formations over the next five years. Experiencing year-over-year increases in sales inventory levels are also on the rise.
No matter where you find the latest information on this topic, it is clear that real estate markets in most major metropolitian areas are on the rise. And, many will require a two income household to afford the house. With prices on the rise, new construction of single family homes will follow in those markets where legal and/or natural reasons (such as lack of land in San Francisco) impede such growth.
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