2017: Phoenix Market Leads the Nation

Jonathan Smoke
Chief Economist, realtor.com

Despite a more moderate housing market overall in 2017, strong local economies and population growth will continue to fuel the nation’s top markets. The realtor.com® 2017 top 10 housing markets based on price and sales gains are:

1. Phoenix-Mesa-Scottsdale, Ariz.
2. Los Angeles-Long Beach-Anaheim, Calif.
3. Boston-Cambridge-Newton, Mass.-N.H.
4. Sacramento–Roseville–Arden-Arcade, Calif.
5. Riverside-San Bernardino-Ontario, Calif.
6. Jacksonville, Fla.
7. Orlando-Kissimmee-Sanford, Fla.
8. Raleigh, N.C.
9. Tucson, Ariz.
10. Portland-Vancouver-Hillsboro, Ore.-Wash.

These top 10 markets are forecast to see average price gains of 5.8 percent and sales growth of 6.3 percent, exceeding last year’s anticipated national growth of 3.9 percent and 1.9 percent, respectively. But when compared to last year, prices in eight of the top 10 markets are expected to decelerate with only Los Angeles and Tucson, Ariz. showing stronger growth than last year. Other commonalities among the top 10 housing markets include: relatively affordable rental prices, low unemployment, large populations of millennials and baby boomers, as well as a high number of listing views on realtor.com.

As Chief Economist, Jonathan Smoke is responsible for developing and translating real estate data and trends into accurate and relevant consumer and industry insights. Jonathan regularly collaborates with real estate analysts and economists and is a sought-after speaker and commentator known for fresh insights and an ability to convey complex ideas in an easy-to-understand and entertaining manner.