While we read/hear that property values are expected to rise an average of 3.7% during this year, Vero Real Estate Solutions predicted that 10 markets will rise an average of +7.85%. Despite a +7.8% rise in property values, this number is one half a percentage point less than Vero’s 8.3% projections last quarter.
The latest VERO FORECAST points to 10 markets, almost exclusively small-to-modest sized markets, where low housing supplies and steady population growth are driving higher demand.
Seven of these top ten markets for home value appreciation are in Idaho and Washington. Take a look:
– Idaho Falls ID +10.2%
– Odessa TX +8.8%
– Boise City – Nampa ID +8.7%
– Bellingham WA +7.8%
– Olympia WA +7.6%
– Midland TX +7.5%
– Phoenix – Mesa – Glendale AZ +7.1%
– Spokane WA +7.0%
– Yakima WA +6.9%
– Kennewick – Pasco – Richland WA +6.9%
Vero Real Estate Solutions points to an overall softening in the housing market nation-wide despite its predictions that these ten housing markets will appreciate more than twice that of the national average home price appreciation.