Here’s realtor.com’s hot housing market picks that outperform the national forecasted price growth of 2.2%. Lakeland, Florida tops the list with 7.4% forecasted price growth and 5% in home sales growth. Compare that to realtor.com’s national number on home sales growth of -2%. Grand Rapids, Michigan is in the second spot looking at an 8.2% price growth and 4% sales growth. Ranking at number three is El Paso, Texas with 2.5% in price growth, offset by 7.9% in sales growth.
Other areas in the top ten include Chattanooga, Tennessee, Phoenix, Arizona, Bridgeport, Connecticut, Las Vegas, Nevada, Boise City, Idaho and Maimi, Florida. Realtor.com’s Chief Economist Danielle Hale shares her take on the numbers. “These local markets are a direct reflection of the local economies. If they are thriving, so is housing. These are also markets that appeal to younger buyers.”
The criteria realtor.com looked at included a strong economy with job growth outperforming the forecasted national average of 1.3%. Population growth numbers for the top ten at 2% compared to .65% nationally were included in the number crunching. Increasing new home construction in those areas looked good thanks to available land.