The Top Booming Real Estate Markets of 2018

by Mahogany WaldonDecember 31, 2018

When it comes to real estate markets that had an amazing year, it’s safe to say that things are looking good across many cities across the U.S. With that in mind, boom markets, or markets that have had major activity since the housing market crash, are becoming more attractive for buyers and real estate investors. Although boom cycles can’t be predicted and there isn’t a clear-cut equation for which cities are going to boom and which cities are going to bust, we’ve taken a look at data from Forbes to see what cities were booming in 2018 and why.
A map of cities experiencing a real estate boom including Denver, Miami, Riverside-San Bernardino, San Francisco, and Fort Collins, Co.

  1. Denver, Colorado

    Denver is a beautiful city that attracts transplants from all over the world. From its snowy winters, to its moderate summers, this scenic town also has a growing economy with many companies of varying industries calling the “Mile High” city home. Denver’s market is in the midst of a current boom. For those looking for a home in the city, the average home price is $395,000 and the home price vs. income is at 47% (the affordability of a home compared to a buyer’s income), so if you’re on the prowl, Denver might just be the place to look.

  2. Miami, Florida

    Things are heating up in Miami and it’s muy caliente! Miami is on the brink of a market boom. Miami has been making strides to recover since the crash of 2008, and it’s doing a good job. With residential and commercial developments springing up throughout this South Florida mega metro, this “Magic City” has pulled itself up by its bootstraps and has taken a leap out of the housing bubble it once found itself in. Much of that is due to homes keeping their value through continuous appreciation. Prices are staying steady, and there haven’t been drastic increases. The average home price in Miami-Dade is $352,000.

  3. Riverside- San Bernardino, California

    Southern California (SoCal) isn’t an ideal place to live for the average American as far as home prices are concerned (but honestly, where in Cali is there an ideal market for the average American?) After the housing market crash in 2008, not enough homes were being erected, which caused inventory to drop and prices skyrocketed. The drop in home sales that occurred here didn’t do any good to the crippled market. But, the good news is that in recent years, the Riverside-San Bernardino metro has seen rising sales and home-price appreciation. Homes are becoming more affordable, and based on the price vs income percentage (32%), that’s a great thing! The average home price in this area is $312,000.

  4. San Francisco, California

    The Bay Area’s housing market is often written about on real estate sites and publications. Usually, tales about scary sales prices and this once-struggling market often take on folklore-ish contrivance (seriously, are those stories real?) The sad fact is that most of the horror stories that you’ve probably heard about San Francisco’s real estate market are true. What happened in this “Silicone Valley” city in 2008 was like something out of a nightmare. After a fabulous year in 2017, San Francisco took a nosedive when it’s housing market collapsed the following year. Although homes have been appreciating within the past few years, homes still remained far too expensive (I’m talking millions) for buyers. Things are looking up for this “Golden City” as conditions are getting better with new homes entering the market and the city is seeing major price reductions on existing homes on the market.

  5. Fort Collins, Colorado

    Another “Centennial State” city has made the list! Fort Collins is a booming city with a strong economy and steady housing market. Taking cue from Denver, this city has had major successes since the housing market crash of 2008. An interesting phenomenon to take note of in this area is that the population is dropping, the market size is pretty small, and the cost of living is relatively high in Fort Collins. Despite that, there isn’t much cause for concern, due to its market size, the other aforementioned qualities are deemed as “normal.” The real estate market is in good shape in this city and residents new and old can rejoice in that.

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About The Author
Mahogany Waldon
Mahogany is a Content Marketing Coordinator for Homes.com. In her spare time, Mahogany enjoys reading, writing poetry, blogging, traveling, and loves a good southern idiom. Mahogany is also a certified Reiki practitioner and enjoys all things supernatural.