Wondering what housing markets will be the hottest in 2018? Then you?re in luck. This week, Realtor.com released its predictions about which of the country?s top 100 real estate markets will soar to the top 10 next year.
We were pleased to see that five of the markets that we serve made the list. Here?s more about their rankings on the list and why each is predicted to be ?hot? next year:

• -Deltona, Florida #3

  Deltona came in third on the list, just behind Las Vegas, which was first, and Dallas, second. The median home price in the market is $275,050. But Realtor.com predicts sales growth of 5.5% next year and price growth of 6%. It reported that Deltona is a market that?s been heavily influenced by investors who took advantage of home prices when they were low, and flipped the homes for profit or converted them to rentals, some of which are now hitting the market because prices are up.

• -Lakeland, Florida #5

  Lakeland came in fifth on the list, behind Stockton, California. Lying between Tampa and Orlando, Lakeland is seeing healthy growth in the suburbs, and a lot of neighborhood and commercial revitalization as well. Its main draw is home prices that are much more affordable than its larger counterparts, while still being within a decent commuting distance to either one. The median home price is $224,950, with 3% sales growth and 7% price growth predicted for 2018.

• -Charlotte, North Carolina #7

  Charlotte came in seventh on the list, just after Salt Lake City, Utah in sixth place. Many of the new homebuyers in Charlotte are reportedly people moving from other states for jobs. Employment in the state is predicted to grow by 2.5% next year, and the population by a slightly lower rate of 2.2%. The median home price is $325,045 with sales growth predicted to go up by 6% and price growth by 3% in 2018.

• -Colorado Springs, Colorado #8

  Colorado Springs came in eighth place on the list. The median home price for the market was $375,000, with 3.1% predicted sales growth and 5.7% predicted price growth for 2018. The legalization of marijuana is believed to have something to do with the influx of people desiring to move to the area. Its proximity to Denver is also said to be a draw.

• -Nashville, Tennessee #9

  Nashville came in ninth, just ahead of Tulsa, Oklahoma in tenth, with the competition for housing especially stiff in the suburbs of this country music town. The median home price was $358,501, with sales growth expected to increase by 1% and price growth by a whopping 7.7% in 2018.

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Acuity National Real Estate Solutions is a national title agency offering cutting-edge tools to help lenders reduce costs, streamline closings and increase compliance. If you?re a lender who would like more information, please contact us today!

Confidence in home sales among title agents and real estate professionals rose sharply by 9.1% in the second quarter of this year, according to the First American Financial Corp (FAF), which conducts the quarterly Real Estate Sentiment Index survey.
Mark Fleming, FAF?s chief economist said in a press release: “The increase was driven by the rise in expectations for both purchase transactions and refinance transactions amid persistent low mortgage rates.?

The Public Thinks Now Is Good Time to Buy

According to the National Association of Realtors (NAR) survey conducted in the second quarter of 2017, 70% of people believed that now is a good time to buy a home; however, those who believed that strongly decreased slightly from 47% in Q1 to 43% in Q2. On the contrary, only 30% believed that now is not a good time to buy a home.

Those who were the most confident, the NAR said, were those who own homes, those 55 or older, and those with incomes over $50K. People in the Northeast, Midwest and South also were more likely to be confident than those in other regions. Least confident were renters, people younger than 34, and those living in urban areas.

Signs Show Real Estate Market Will Get Hotter

The real estate market is hot right now, with home sales up, and home prices on the rise and hitting record highs in some markets. In fact, the NAR reported in late June that home prices have been rising every month for five years. The median price for an existing home reached $252,800 in May, exceeding the peak from last of $247,600.

If you think this is good news, there?s more! According to the experts, there are a number of indicators that the market is only going to get better. Here are just a few:

• Mortgage Activity Is on the Rise: Purchases are up by 3% over last year, according to recent information from the Mortgage Bankers Association.
• Single-Family Home Completions Are Up: Even though single-family housing starts were slightly down this May, single-family housing completions were up by 14.6% over May of last year.
• Unemployment Is Low: The U.S. Bureau of Labor Statistics reported a low unemployment rate of 4.3% for May.

Acuity Real Estate Solutions

Acuity National Real Estate Solutions is a national title agency offering cutting-edge tools to help lenders reduce cost, streamline closings and increase compliance. For more information, please visit our?homepage?today!