Four of the top 10 housing markets are in California, and people keep telling me CA is dying.
Sac is No.1 and SV is No.2. SV is projected to have the biggest price gain at 10.80% among the top 10 markets.
Sac is super duper hot!
Another crack at Top 10, from the National Association of Realtors:
These housing markets likely will carry momentum from 2020 into “2021 and beyond because of strong in-migration of new residents, faster local job market recoveries, and environments conducive to work-from-home arrangements and other factors,” says NAR Chief Economist Lawrence Yun. For example, movers from pricey coastal regions may be drawn to cheaper destinations as companies increase work-from-home policies and make commuting less of an issue.
The trend is already becoming apparent in markets like Phoenix and Dallas, which have attracted the largest number of movers from the West Coast, the report shows.
“Expect these 10 markets to perform strongly, with potential buyers finding conditions particularly favorable to purchase a home,” says NAR President Charlie Oppler. “Overall, residential real estate will continue to be an important driver of our nation’s economic recovery, and the activity in these markets will help lead the way.”
I love articles from the future! Wish they would have warned me about COVID though
To give a comprehensive and accurate forecast of what is bound or expected to happen with the housing market in 2021, we need to read the signs. There can be some more evident than others, but the increase of home prices and the lowering of mortgage rates can lead to a bubble burst in the real estate market. Several factors can impact the areas that will be less affected by the economy’s struggle on the real estate market.
It’s also important to take note of the types of real estate. When it comes to residential, the US might follow the EU in relocating to less populated areas. Still, industrial commercial real estate is taking the lead with the growth of eCommerce. One of the things that we will see is that cities that have developed sustainable development and focused on investments might be better of than others. Texas has gone through significant growth, and the housing market there is less likely to be as heavily impacted by any potential crash. Just looking at cities like Dallas or the much smaller Alpharetta, we can see a pattern of sustainable development that’s meant to overcome outside factors that would otherwise affect it.
Want to challenge that? Texas has learned to diversify its economy since the oil crashes (can’t remember all of them, vaguely know there are, my memory could fail me). Don’t quote the past as if people don’t learn… everybody make mistakes and they try to adapt… some succeed some fail…
$4m for a one bedroom beach shack. Smart design.
Not good for guests. A separate cottage for them
Finally a use for Bitcoin. Inflating the value of my RE.
I am wondering how the city recorded the property value and what his tax base would be?
Property value is in dollars. Assessor determines value no matter how the property was obtained