The National Association of Realtors, the Mortgage Bankers Association, Fannie Mae and Freddie Mac predict that home sales are going to heat up in 2017, and a new report from realtor.com shows just which markets will see most of that heat.
According to the new report, the West will continue to see the hottest markets in 2017, leading the nation in prices and sales, according to an article by Cicely Wedgeworth for realtor.com.
“The top 10 markets all benefit from strong growth dynamics: population, jobs and households,” realtor.com Chief Economist Jonathan Smoke said. “They all have low unemployment that’s heading lower, which buoys consumer confidence.”
The top 10 are forecast to see average price gains of 5.8% and sales growth of 6.3%, exceeding next year’s anticipated national growth of 3.9% and 1.9%, respectively.
The top 10 hottests metros for 2017 are found by averaging realtor.com's forecasted price and home sales growth for the year.
10. Portland, Oregon
Price growth: 6.55%
Sales growth: 5.02%
9. Tucson, Arizona
Price growth: 6.1%
Sales growth: 5.47%
8. Raleigh, North Carolina
Price growth: 4.16%
Sales growth: 7.55%
7. Orlando, Florida
Price growth: 5.69%
Sales growth: 6.1%
6. Jacksonville, Florida
Price growth: 4.79%
Sales growth: 7.03%
5. Riverside, California
Price growth: 4.98%
Sales growth: 6.88%
4. Sacramento, California
Price growth: 7.18%
Sales growth: 4.92%
3. Boston
Price growth: 6.09%
Sales growth: 6.32%
2. Los Angeles
Price growth: 6.9%
Sales growth: 6.03%
1. Phoenix
Price growth: 5.94%
Sales growth: 7.24%
