The Five Hottest Real Estate Markets for 2017
Meet the Cities Everyone Will Be Moving to This Year
Whether you’re moving for work purposes, buying a property for investment purposes, or you just want a change of scenery, 2017 is shaping up to be a great time to make that move because interest rates are still low and lenders are lending.
Of course, where you choose to move is always a chief concern, so we’ve done the hard work for you. Here are the cities that will top the lists for hottest real estate markets in 2017.
Salt Lake City has a lot going for it. It is home to the University of Utah, the unemployment rate is a low 2.8 percent, income rates grow steadily at about 1 percent per year, and there is a tremendous influx of large employers and tech startups moving into the area.
Delta Air Lines and Marriott both operate expansive call centers in Salt Lake City, and many industry experts are calling the Salt Lake City region “the next Silicon Valley.” Plus, the real estate market in Salt Lake City is considerably more affordable than many other areas with similar amenities, and it’s also filled with a generous selection of quality homes like this one.
In the Deltona-Daytona Beach-Ormond Beach area in Florida, every day is a summer vacation. The weather here is absolutely beautiful and void of the hurricane risks that most other Floridians have to contend with. And, this area is experiencing a very strong burst in its economy.
Coupled with low unemployment and simply an overabundance of recreational opportunities, the Deltona-Daytona Beach-Ormond Beach area is set to scorch its way to becoming one of the hottest markets in the country this year, especially with its affordable housing market. Just look at what you can get in this area for under $200k!
Yep, you have that right, Utah is going to be really, really hot this year and Provo will be a big reason why. Homes are expected to see an average appreciation of 4.3 percent in Provo in 2017. And, with an average annual income increase of 1 percent and a low 2.7 percent rate of unemployment, Provo enjoys one of the country’s most robust economies and this translates to an excellent housing market. The building business is also hot in Provo, meaning there are a lot of newer built homes on the market, like this one.
While cities like San Francisco and New York have essentially priced themselves out, Seattle, although also expensive, still has room to grow. And, in 2017, home prices are expected to climb by an impressive 5.6 percent.
The city’s exploding tech sector is responsible for the tremendous influx of new residents and this will have a ripple effect on the housing market in the area. With income increasing by an average of 1 percent and an unemployment rate of just 4.4 percent, Seattle has what it takes for its housing market to be red hot this year. For a taste of what Seattle has to offer, check out this moderately priced bungalow.
Nashville has enjoyed a strong housing market for several years now, especially with secondary markets now all the rage. But this year, Nashville is set to be the hottest real estate market in the country thanks to a home appreciation rate of 4.3 percent, an unemployment rate of 4 percent and an average income increase of 1.1 percent among its workforce.
Along with its legendary music lineage, Nashville’s economy is being driven by young professionals and a growing health care industry. And with homes like this one, Nashville delivers high value at an affordable price.
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