2016 Summer Real Estate Market Forecast
The Hottest Real Estate Markets of Summer 2016
Summer 2016 is shaping up to be a good one for the country’s housing market. Bolstered by substantial growth in median listings from March to April and an improved national economy, the market is showing no signs of slowing down, even in an election year.
Examples of real estate recovery, and even progress, can be found all over the country. For instance, in San Francisco, median home prices have soared by 25 percent month over month. Meanwhile in Dallas, the total number of listings is also up, as is the city’s median list prices. Then there’s Charlotte, NC, where employment is growing by 4 percent year over year, which has helped listing prices rise by 6.7 percent over 2015. As the national economy strengthens, home values will follow and this is one of the strongest driving factors for a hot housing market this summer.
If you’re in the market for a new home, then here are five cities where you can expect the summer housing market to be scorching.
Tech-friendly cities are looking to be included among those with the hottest housing markets this summer, as more and more professionals move to these areas for in-demand jobs. And few cities can match Seattle’s tech prominence. After all, the city is home to Microsoft, and it’s the birthplace of Amazon.
Attracting young tech pros by the score, Seattle is the top city in the country for job and wage growth, and its median pricing is currently 4.3 percent higher than the national average. Over the past five years, few cities have grown as quickly as Seattle and that trend looks to continue through the summer of 2016 and well into 2017. Homes.com has the low-down on homes for sale in Seattle, WA.
Boston has so much going for it, but its reputation as a leader in innovation is what ultimately draws so many people to the city. And, despite its high cost of living, Boston is continually ranked as one of America’s most livable cities, making it extremely attractive to those looking to relocate. In March, home sales in Boston were up by more than 11 percent! This trend is expected to continue, making Boston likely to be home to one of the hottest markets throughout the summer. Discover Boston homes for sale and find what you’re looking for.
In St. Louis, homes are selling approximately 12 days faster than the national average. The city enjoys a very strong cultural scene and a fervent sports foundation. It also has a strong economy based in reliable industries like healthcare and manufacturing. Plus, listing prices are up by 6.4 percent. What’s this all mean? It means that St. Louis is set to enjoy one of the strongest real estate markets of summer 2016. Learn more about homes for sale in St. Louis, MO now.
Denver is alluring, if for no other reason than it has some of the most beautiful natural scenery in the country. The city enjoys incredible cultural, culinary, and sports scenes, and of course, there’s an endless variety of outdoor activities to enjoy all year round.
Denver is an attractive city for a variety of reasons, but with the city’s total listings up by 2.1 percent month-over-month in April, home values up by 5 percent year over year, and unemployment all the way down to just 3.1 percent, the summer is looking to be very kind to the real estate market in Denver.
Omaha, Nebraska enjoys a very low unemployment rate at just 2.9 percent. Its economy is also surging with incomes and opportunities on the rise. As you might expect, the city’s housing values are following suit. among smaller metro areas. Search for homes for sale in Omaha now.
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