July 7th, 2017
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 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 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 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 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 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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