Categories: Waccabuc NY

The Hottest U.S. Housing Markets | Waccabuc Real Estate

Housing prices were up in May, and they are only expected to soar in the coming year. The housing market is hot, and that is a good thing for everyone. You can buy, sell, or invest to reap the benefits of the recovering market easily.

But this is not true everywhere. You only have to look at Detroit to see an example. Knowing where to get your foot into the housing market is important because some cities are doing better than others are.

The Best Cities for Housing Market Investing

1. San Francisco

San Francisco is the hottest housing market. The supply of homes in the city is plummeting, down as much as 80% since 2008. When supplies are down, people scurry to find a house, and they are willing to pay more for when they find one that meets their needs and wants.

People aren’t having trouble with paying more either because the state has a low unemployment rate of 6.5%, as of June. Home prices have gone up 24.5%, according to S&P/Case-Shiller Home Price Index, and they should continue to rise as much as 12.7% over the next year, projected by Veros Real Estate Solutions.

2. Los Angeles & San Jose

The boom in San Francisco has spread over to Los Angeles and San Jose too, and housing prices are expected to experience an 11.6% value increase and 11.1% increase, respectively, according to Veros.

3. Philadelphia

On the other side of country, Philadelphia’s housing market is heating up as well. Houses are bought within 30 days of listing date – an incredible selling rate.

4. Texas

Texas is known for its low house prices, but that’s about to rise too. This state expects to see a home valuation increase of 11.1%.

5. Phoenix

Analysts expect home price increases of 10.9% in the next year, and that may be quite accurate because, according to Zillow, Phoenix’s housing market rose 24 percent from year to year.