7 Markets Poised for Stardom in 2018
February 5, 2018
A decade after the last housing crisis took its toll on the U.S. economy, most real estate markets nationwide have not only fully recovered but are soaring above prerecession home-price highs. Personal financing website Credit.com predicts that the markets in the following states will stand out the most this year.
Here are the need-to-know products and services promising to transform homes and your clients’ lifestyles over the next year or so.
- Nevada: Median home values in Las Vegas are expected to rise about 5.8 percent over the next 12 months. The median home price is currently about $285,045.
- Texas: As more businesses relocate or expand in the state, home sales are forecasted to grow by 6 percent in 2018. The median home price in North Texas is $339,950.
- Florida: The most popular areas in Florida are expected to see a 5 percent increase in their housing markets. In Deltona—the state’s housing market that is booming the most—the median home price is $275,050.
- California: Inventory shortages in the state are fueling home-price increases. Stockton is one of the fastest-growing areas in the state, and economists are predicting a 4.6 percent growth in its housing market. The median home price is $385,050.
- Utah: Businesses are heading into the state and driving the housing market. The Salt Lake City market is forecasted to see a 3.2 percent growth in 2018; the median home price is $360,000.
- North Carolina: The state is emerging as a popular spot for those relocating. Home sales are forecasted to increase 6 percent in 2018, and the median home price averages $325,000. Charlotte is among the state’s fastest-growing areas.
- Colorado: Home prices have risen quickly in the state over the past two years. Housing analysts are predicting the state’s housing markets to level out more in 2018, with growth around 3.1 percent. Colorado Springs will continue to be one of the hottest markets, with median home prices forecasted to rise 5.7 percent this year.
Source: “10 States Predicted to Have Strong Housing Markets in 2018,” Credit.com (Feb. 2, 2018)
Updated: August 15, 2018