There is plenty of optimism among agents and brokers for a prosperous 2018, but there are 10 markets where the coming year could prove to be even better than expected.
In a market review, REALTOR.com recently offered its predictions for the top real estate markets this year. It looked at the number of sales of existing homes and their prices, along with the amount of new home construction in the 100 largest markets.
According to a report on Housingwire.com, the site also reviewed the local economies of each area, along other demographic trends.
“People are going to continue to seek out pockets of affordability that remain in the market,” realtor.com Chief Economist Danielle Hale said. “A lot of these places are more affordable than surrounding areas, yet still have strong economies. Even though prices are expected to grow, most of these markets will still remain relatively affordable in 2018.”
The Top 10 markets on the list offers an interesting mix, with only one California city making an appearance.
At No. 10 is Tulsa, Okla., with a median home price of $199,584. REALTOR.com forecasts sals growth of 7.5 percent and price growth of 1 percent.
Coming in at No. 9 is Nashville, with a median price of $358,501, forecast sales growth of 1 percent and predicted price growth of 7.7 percent.
Next is Colorado Springs, with a median home price of $375,000 predicted sales growth of 3.1 percent and predicted price growth of 5.7 percent
Charlotte, N.C., has a median home price $325,045, predicted sales growth of 6 percent and predicted price growth of 3 percent, good for No. 7 on the list.
Salt Lake City, Utah, offers a median home price of $360,828, predicted sales growth of 4.6 percent and predicted price growth of 4.5 percent.
Lakeland, Fla., with a median home price of $224, 950, enters the list at No. 5. With predicted sales growth of 3 percent and predicted price growth of 7 percent.
At No. 4, Stockton, Calif., has a median price of $385,050, predicted sales growth of 4.6 percent and predicted price growth of 6.4 percent.
Deltona, Fla., comes in at No. 3 with a median home price of $275,060 and predicted sales growth of 5.5 percent and predicted price growth of 6 percent.
At No. 2, Dallas, Texas, offers a median home price of $339,300 and predicted sales growth of 6 percent. Price growth in Dallas is forecast at 5.6 percent.
Las Vegas tops the list with a median home price of $285,045 and predicted sales growth of 4.9 percent. Its predicted price growth is 6.9 percent.
