7 Housing Markets That Are Geared Up To Take 2019 by Storm
Selling a home quickly and for the highest possible profit rarely has anything to do with how great your home actually is. Instead, it almost always relies on the local real estate market and how hot things are. Of course, an area’s job market, economy, and quality of life also come into play.
If you’re planning on selling your home in 2019, then you’ll be fortunate if you live in one of the following seven cities, because they are expected to have some of the hottest housing markets around this year.
#1: Lakeland, Florida
Lakeland, Florida is located just 45 minutes from Walt Disney World, 40 minutes from Tampa, and an hour from Orlando by car. As a result, it is a great place to live if your buyer works in these areas because the real estate is more affordable in Lakeland.
In 2019, Lakeland’s market is expected to be one of the country’s best, with home prices predicted to grow by 7.4% and home sales by 5%. The area is beloved by everyone from students attending Southeastern University and Florida Southern College to retirees, so your buyer pool will be filled with many diverse potential buyers.
#2: Grand Rapids, Michigan
Grand Rapids is home to the Medical Mile, a hot spot for world-class research and education. But that’s not the reason why the city is poised to enjoy a strong housing market this year. The city’s low cost of living and affordable housing has been attracting companies looking to expand or to relocate for several years.
In fact, Amazon recently announced their plans to build an 850,000-square-foot fulfillment center in nearby Gaines Township, which will bring a lot of new jobs to the area. Along with a reinvigorated job market in Grand Rapids, sales are expected to grow by 4% and home prices by 8.2%.
#3: El Paso, Texas
El Paso might be known for its Mexican cuisine and small-town Texas atmosphere, but the city is seeing a lot of newcomers arriving in the area, thanks to its affordable housing and low cost of living. The city’s proximity to Fort Bliss, the second-largest military base in the country, also plays a role in its growing population. Home sales are expected to grow by an impressive 7.9% in 2019. Prices are also predicted to grow this year as well, by 2.5%.
#4: Chattanooga, Tennessee
Chattanooga is a hot bed of investor activity thanks to its affordability. Investors are swooping in and buying properties all over the city, fixing them up, and selling them to eager buyers. With its music and food scene and abundance of outdoor activities, Chattanooga is especially attractive to millennials, the population group expected to buy the most homes this year. You can expect home prices to rise by 4.3% and sales by 5.2% in 2019, making it a great year to sell in Chattanooga.
#5: Phoenix, Arizona
With skyrocketing housing prices pushing a lot of Americans out of the big metropolitan cities, more and more people are relocating to smaller, more affordable cities like Phoenix. Attractive to both retirees and young professionals, Phoenix is expected to have one of the hottest housing markets this year. And, there’s no extra charge for sunshine day in and day out. You can expect housing prices to rise by 5.6% this year, and sales to grow by 3.6%.
#6: Bridgeport, Connecticut
If you live in Bridgeport, then you know that housing prices here are already through the roof. But don’t let that make you think Bridgeport is set to see a housing crash anytime soon. In 2019, this affluent suburb of New York City will continue to attract buyers because unlike New York, buyers don’t have to pay a 1% mansion tax in Bridgeport. You can expect the area’s already high housing prices to climb by 4% this year, and sales by 5%.
#7: Las Vegas, Nevada
During the housing crises, Las Vegas was one of the hardest hit cities in the nation, when the area was literally peppered with foreclosure signs. But as quickly as Las Vegas crashed, its market also picked back up again and this year, it is expected to be one of the best.
Las Vegas has a surprisingly low cost of living, low mortgage rates, and affordable housing, and most homes being sold are barely able to stay on the market just a few days after being listed. Home prices in Las Vegas are expected to rise by 7.9% and sales growth by nearly 1%.
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