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2017 Housing Market Snap Shot

Every year, Zillow conducts research to predict the top ten housing markets for the next 12 months. Real estate experts consider home values, unemployment rates, and income growth before making the top ten list. This year, most of the list is comprised of western cities but 2017’s number one “hottest housing market” is Nashville, TN.

 

I always find this list interesting from both a professional and a wanderlust perspective. Do your relocation destinations make an appearance?

 

Zillow’s Top 10 Housing Markets for 2017:

  1. Nashville, TN
  2. Seattle, WA
  3. Provo, UT
  4. Orlando, FL
  5. Salt Lake City, UT
  6. Portland, OR
  7. Knoxville, TN
  8. Ogden, UT
  9. Denver, CO
  10. Sacramento, CA

 

According to Zillow, “Nashville has moved beyond its country music roots to become a major healthcare employment center, helping drive the metro to the top of [the] list.”

 

The study also showed that number 2 Seattle has seen massive home value growth as well some of the fastest rental growth across the entire nation.

 

You may be surprised to see three Utah cities make the top ten but did you know that Provo has the lowest unemployment rate (2.7 percent to be exact) of the entire list? All three Utah markets are expected to see over 4 percent home value appreciation this year.

 

California as a whole is known for high cost of living but Sacramento is actually one of the more affordable markets in the state. In fact, homes in the capital are 58 percent less expensive than the average Bay Area home.

 

There definitely seems to be a pattern of growth in smaller/mid-sized markets around the country as they offer job opportunities and economic growth. Zillow predicts that these factors will drive home prices up as the year goes on and more people discover the opportunities and desirable living conditions in these markets.

 

Check out Zillow’s article for more information on the cities ranked for 2017 and share your takeaways in the comments below.

 

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