Phoenix is projected as the top housing market in the country for next year, according to a new forecast report by Realtor.com.
The real estate group expects Phoenix housing to see price gains of 5.9 percent and sales growth of 7.2 percent.
That earns the Valley the top spot.
Los Angeles ranks second, Boston third. Sacramento and Riverside round out the top five. Tucson is picked as the ninth strongest housing market next year, by Realtor.com’s forecasters.
The housing forecast projects slower but moderate growth in 2017 with eyes on a potential interest rate hike.
Realtor.com is an arm of media giant News Corp.
Nationally, the forecast calls for a 3.9 percent gain in home prices. That is slower than the past couple of years.
New home sales are estimated to increase 10 percent and new home starts 3 percent next year.
The real estate forecast expects 2.1 percent economic growth in the U.S. in 2017.
“We don’t expect the outcome of the election to have a direct impact on the health of the housing market or economy as we close out 2016. However, the 40 basis points increase in rates in the days following the election has caused us to increase our interest rate prediction for next year,” said Jonathan Smoke, chief economist for Realtor.com referring in part to Donald Trump’s presidential election.
The real estate group also expects Midwestern cities such as Madison, Wisconsin; Columbus, Ohio; Omaha, Nebraska; Des Moines, Iowa; and Minneapolis to be attractive to younger home buyers.
Those markets have affordable prices — compared to larger, mostly coastal cities — and are often college towns or have positive job markets.
Realtor.com projects Chicago with the weakest housing market in 2017 among the 100 top U.S. metros.
Matt has been a licensed Real Estate Broker since 2003 and with American AllStar Realty since 2005. Matt lives and loves real estate, especially assisting Buyers and Sellers in residential transactions.
I have always held a vision of personal real estate service that would far exceed customer expectations. Myself and my team of agents are able to negotiate competently on a clients' behalf and consistently handle even the most complex property transactions with ease. This teamwork, attention to detail and serving the customer with an above-and-beyond philosophy, has helped American AllStar Realty succeed in spite of a sometimes-adverse economy. A solid reputation has been built through hard work, integrity and a strong code of ethics.
I am a hardworking professional, focused on delivering real results. You truly want someone in your corner when it comes to any real estate transaction.
Gilbert, AZ Thu Aug 23 2018 This week the median list price fo
"Matt Pennington made purchasing our home a very easy and stress free experience. I recommend him to anyone. If you looking for a honest, dependable, hard working realtor look no further, Matt is your guy!"