Fitch Insurance Company, one of the Big Three ratings companies along with Moody’s and Standard and Poor’s, just came out with its ratings on housing markets for the top ten states in the country. This international credit rating agency based in London and New York City helps investors evaluated financial stability in order that they make better, more secure financial decisions.
Check out Fitch’s top 10 housing market states for 2018…
- Nevada – Median home values are expected to rise +5.8% in 2018. The S&P Case Shiller Price Index targets Nevada’s median home price at $285,000, up +8.6% in 2017.
- Texas – This state has a booming economy, due to low taxes and cost of living. Profitable companies are relocating, expanding and launching new ventures due to the tax and business climate. Median home prices in North TX come in at #339,950. Prices are predicted to increase +6%.
- Florida – The median home price in Deltona targeted at $275. That price is expected to rise +5%. The three hottest spots in FLA, Tampa, Deltona and Lakeland, boast beaches, outdoor living and warmth.
- California – Though consumers need strong credit scores due to historically low inventories and high competition, central cities such as Stockton are expected to increase +4.6% with a current median home price of $385,050. Remember that prices in San Francisco increased $100,000 in 2017.
- Utah – Business are flocking to Utah. Provo-Orem rankings by the Milken Institute as the best performing city are fueled by a robust tech sector and broad based job and wage growth. Salt Lake City median home price currently comes in at $360,000 with an expected increase of +3.2% in 2018.
- North Carolina – Median home price is currently $325,000 with an expected increase of 6%. This state is among the fastest growing in the country due to inbound migration and its popular capitalization of mixed-use developments.
- Colorado – Colorado Springs tops all state cities in terms of growth. Median home prices are anticipated to increase +5.7% in 2018. Denver, a city with steep price increases during the last two years, is expected to level off a bit to an increase of 3.1%.
- Tennessee – Nashville is most definitely flexing its muscles with a median home price of $358,000. According to the agency, Nashville Realtor, single-family homes in premier Nashville suburbs “fetch multiple offers over asking prices ‘overnight.’”
- Oklahoma – This is one of strongest, most affordable states in the country. Good mortgages with manageable payment structures shine. The statewide median home price is $116,800. Oklahoma has a low cost of living, good jobs economy and low crime rate.
- Georgia – The median home price comes in at $218,350 currently. Prices in the Peach State increased +10% between 2016-2017. Atlanta and its Triangle are booming.
Low/no taxes are HUGE incentives for these states, excepting California.
