Zillow’s annual survey of the hottest markets and LendingTree’s research on the most competitive markets for 2019 were just released.
Zillow’s forecast is based upon predicted home sales and rent changes, income and population changes, and unemployment rates and job availability in specific areas.
Aaron Terrazas, Zillow’s senior economist, said, “When it comes to the country’s hottest housing markets, long-time leaders (San Jose, etc.) are hard to displace, but a number of up and comers are nipping at their heels. Silicon Valley’s white-hot jobs market has propelled the region’s housing market, which we expect to continue into the early months of 2019, but there are some signs that the trend is away from the West Coast and towards the South and Southeast…affordability is attractive…for both young professionals and booming businesses…”
Take a look at Zillow’s hottest markets for 2019:
Metro Median Home Value Unemployment
Home Value Growth Rate
San Jose $1,251,200 12.7% 2.5%
Orlando $233,700 6.3% 3.1%
Denver $403,800 6.8% 3.1%
Atlanta $215,000 7.6% 3.3%
Minn/St Paul $265,200 5.4% 2.6%
San Francisco $963,000 6.7% 2.6%
Dallas $237,800 8.4% 3.3%
Nashville $252,200 6.8% 2.9%
Jacksvillle $208,200 9.3% 3.0%
San Diego $592,800 4.3% 3.2%
Meanwhile, LendingTree looked at competitive buyers as those who “…have higher credit ratings (680+) and the ability to put down a larger down payment (14%-19%). LendingTree’s most competitive markets for 2019 were identified in the following metros:
Metro % Shopped Mortgage % with 680+
Before Shopping House Credit Scores
Denver 67% 56%
Los Angeles 64% 57%
Portland 65% 57%
San Francisco 62% 59%
San Jose 61% 65%
St. Louis 65% 54%
Las Vegas 66% 52%
Seattle 59% 65%
Sacramento 65% 50%
Boston 60% 57%
