In the past decade, the real estate market in the USA has been on a steady rise. Due to the high number of houses put up, 2019 will be the year where there will be more houses than buyers. But in some cities, the prices and sales will shoot up.
Some of the best real estate markets have ranked in regards to how viable the economy will be, the rates of unemployment, median household income, affordability among other factors. From Midwest to southwest, from north to south, these real estate markets represent a diverse and broad America. New housing is constructed to meet the needs of everyone starting from first time buyers, young families and even the elderly as they can be put up as retirement communities.
The following are the hottest estate markets in the USA:
With its proximity to Walt Disneyland and also Tampa and Orlando this has become one of hottest markets in the US. The projected price growth is at 7.4% and sales at 5%. The medium price list is $224,950.
Grand Rapids, MI
Due to the availability of viable jobs and lower cost of living real estate companies are shifting to this area as the predicted price growth is at 8.2% and sales are set to grow to about 4%. The average listing price is at $278,750.
Located in the small river city along Tennessee-Georgia border the houses here are affordable. Investors are moving here quickly as the sales are projected to grow up to 5.2%. The median list price is at $269,950. The price is set to grow to a high of 4.3%.
El Paso, Texas
The town is located close to one of the largest military base in the country. With people moving from neighboring estates the predicted price growth and sales are projected 2.5% and 7.9% respectively. The houses are quite affordable as they start at $175,050.
With the price growth slated at 5% and sales projected to grow at 3.3%, the market is becoming quite popular among retirees. The median listing price is $385,050.
This town has attracted many people from the more expensive towns such as California. The median listing is at $330,045. Although it is growing the sales are at a low of 1.5% brought about by the high price growth of 6.9%.
This town has become a harbor for people escaping the mansion’s tax in New York. The predicted price growth is 4% while the median price listing is at $749,050 coupled with a projected sales growth of 5%.
Las Vegas, NV
Since it was hit hard in the housing crisis in 2008, the city has bounced back to become one of the best markets in the USA. Due to its low mortgage rates and lack of state income tax people are moving in large numbers. The listing price is set at $320,049. With projected price growth high at 7.9% it has reduces the sales to about 0.9%