2017: Phoenix Market Leads the Nation
December 21, 2016 |
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:
- Phoenix-Mesa-Scottsdale, Ariz.
- Los Angeles-Long Beach-Anaheim, Calif.
- Boston-Cambridge-Newton, Mass.-N.H.
- Sacramento–Roseville–Arden-Arcade, Calif.
- Riverside-San Bernardino-Ontario, Calif.
- Jacksonville, Fla.
- Orlando-Kissimmee-Sanford, Fla.
- Raleigh, N.C.
- Tucson, Ariz.
- 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.