For those looking to invest in real estate—or simply looking to move to the next buzz-worthy city ~ real estate listings site Zillow released a new report today showing the top ten best performing housing market predictions for 2019. To conduct the study, Zillow looked for housing markets expected to outpace the rest of the nation in the coming year, based on key factors such as median home value and median rent value, as well as the percent of forecasted change in each, contrasted to the income growth in each area.
Silicon Valley led the results for the second year in a row, with San Jose showing home values at $1.25 million last year and a percent change of 12.7 percent. Atlanta was ranked fourth, with a home value of $215,000 and a 7.6 percent change. San Francisco and Dallas were ranked sixth and seventh. San Francisco homes were valued at $963,000 with a 6.7 percent change. Dallas homes were estimated at $237,800 with a 8.4 percent change.
“When it comes to the country’s hottest housing markets, longtime leaders are hard to displace, but a number of up-and-comers are nipping at their heels. Silicon Valley’s white-hot jobs market has propelled the region’s housing market—which we expect to continue into the early months of 2019—but there are some signs that the trend is away from the West Coast and toward the South and Southeast,” said Zillow senior economist Aaron Terrazas. “Affordability is attractive—for both young professionals and booming businesses, earning markets like Orlando, Minneapolis, Dallas and Nashville top billing in 2019.”
The biggest takeaway trend from the report, though, is the housing market boom of the South. While Atlanta and Dallas made the list, several other Southern cities also landed in the top ten like Orlando, Nashville, and Jacksonville. Southern cities, contrasted with Silicon Valley markets on the list, are also seeing a newfound rise as Texas’ tech sector continues to grow too, bringing more young people to the state, and with that more residential needs. If Zillow's predictions are correct, this time next year, the biggest projects in architecture and design could be coming out of the Southern states.
The hottest housing markets this year include:
San Jose, Calif.
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