The hottest real estate markets of 2017: Who gained big, who fell hard


  • 6bb64 920x920 The hottest real estate markets of 2017: Who gained big, who fell hard

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20. San Antonio, Texas

Average home price: $210,000

3-year price growth forecast: 17%

20. San Antonio, Texas

Average home price: $210,000

3-year price growth forecast: 17%

Photo: Don Klumpp/Getty Images



19. Phoenix

Average home price: $243,000

3-year price growth forecast: 18%

19. Phoenix

Average home price: $243,000

3-year price growth forecast: 18%

Photo: Joseph Plotz/Getty Images


18. Atlanta

Average home price: $213,000

3-year price growth forecast: 19%

18. Atlanta

Average home price: $213,000

3-year price growth forecast: 19%

Photo: Joe Daniel Price/Getty Images


17. Columbus, Ohio

Average home price: $207,000

3-year price growth forecast: 19%

17. Columbus, Ohio

Average home price: $207,000

3-year price growth forecast: 19%

Photo: Ian Spanier/Getty Images/Image Source


16. Boston, Mass.

Average home price: $371,000

3-year price growth forecast: 20%

16. Boston, Mass.

Average home price: $371,000

3-year price growth forecast: 20%

Photo: Tomasz Szulczewski/Getty Images



15. Las Vegas

Average home price: $200,000

3-year price growth forecast: 20%

15. Las Vegas

Average home price: $200,000

3-year price growth forecast: 20%

Photo: RebeccaAng/Getty Images/RooM RF


14. San Diego, Calif.

Average home price: $436,000

3-year price growth forecast: 21%

14. San Diego, Calif.

Average home price: $436,000

3-year price growth forecast: 21%

Photo: Christopher A. Jones/Getty Images


13. Raleigh, N.C.

Average home price: $254,000

3-year price growth forecast: 21%

13. Raleigh, N.C.

Average home price: $254,000

3-year price growth forecast: 21%

Photo: Rick Nelson / EyeEm/Getty Images/EyeEm


12. Charlotte, N.C.

Average home price: $235,000

3-year price growth forecast: 21%

12. Charlotte, N.C.

Average home price: $235,000

3-year price growth forecast: 21%

Photo: Robert Loe/Getty Images



11. Sacramento, Calif.

Average home price: $291,000

3-year price growth forecast: 22%

11. Sacramento, Calif.

Average home price: $291,000

3-year price growth forecast: 22%

Photo: Richard Cummins/Getty Images/Lonely Planet Images


10. Grand Rapids, Mich. 

Average home price: $166,000

3-year price growth forecast: 23%

10. Grand Rapids, Mich. 

Average home price: $166,000

3-year price growth forecast: 23%

Photo: Danita Delimont/Getty Images/Gallo Images


9. Fort Worth, Texas

Average home price: $206,000

3-year price growth forecast: 24%

9. Fort Worth, Texas

Average home price: $206,000

3-year price growth forecast: 24%

Photo: Inge Johnsson/Getty Images/age Fotostock RM


8. Nashville 

Average home price: $249,000

3-year price growth forecast: 24%

8. Nashville 

Average home price: $249,000

3-year price growth forecast: 24%

Photo: Malcolm MacGregor/Getty Images



7. Tampa-St. Petersburg, Fla. 

Average home price: $213,000

3-year price growth forecast: 25%

7. Tampa-St. Petersburg, Fla. 

Average home price: $213,000

3-year price growth forecast: 25%

Photo: Busà Photography/Getty Images


6. Salt Lake City, Utah

Average home price: $277,000

3-year price growth forecast: 25%

6. Salt Lake City, Utah

Average home price: $277,000

3-year price growth forecast: 25%

Photo: Joel Addams/Getty Images/Aurora Creative


5. West Palm Beach, Fla.

Average home price: $313,000

3-year price growth forecast: 26%

5. West Palm Beach, Fla.

Average home price: $313,000

3-year price growth forecast: 26%

Photo: Richard Cummins/Getty Images


4. Seattle

Average home price: $416,000

3-year price growth forecast: 26%

4. Seattle

Average home price: $416,000

3-year price growth forecast: 26%

Photo: Zuraimi/Getty Images/RooM RF



3. Orlando

Average home price: $219,000

3-year price growth forecast: 28%

3. Orlando

Average home price: $219,000

3-year price growth forecast: 28%

Photo: Sky Noir Photography By Bill Dickinson/Getty Images


2. Jacksonville, Fla.

Average home price: $225,000

3-year price growth forecast: 30%

2. Jacksonville, Fla.

Average home price: $225,000

3-year price growth forecast: 30%

Photo: Henryk Sadura/Getty Images/Tetra Images RF


1. Dallas

Average home price: $233,000

3-year price growth forecast: 31%

1. Dallas

Average home price: $233,000

3-year price growth forecast: 31%

Photo: Michael Fitzgerald Fine Art Photography Of Texas/Getty Images




Each month at realtor.com®, we identify the country’s hottest metropolitan markets for real estate—the ones whose homes attract the most listing views and spend the fewest days on market as buyers snap them up. Sometimes we see places dominate the top of the list for months without a break; other times we see quick rises and even quicker falls, as the economic circumstances of key players change.

So as we near the end of the year, we decided to take stock: What were the flat-out hottest real estate markets of 2017—and which were the ones whose fortunes changed the most?

The year’s five biggest success stories illustrate the comebacks and challenges faced by Americans across the country, as home prices marched steadily upward, pushed by the perennial shortage of homes for sale.

RELATED: Despite having active housing markets, California has a housing crisis, according to reports (story continues below)


A new report by the California Association of realtors indicates the housing crisis is getting worse. The median price of a single-family home is at its highest level in a decade.


Media: KTVU








The biggest gainer: Cincinnati, which jumped 53 spots to land at No. 64 on the overall hottest markets list (drawn from the 300 largest metropolitan areas). Like much of the Midwest, Cincinnati offers homes with prices that are actually within reach for many buyers.

“Cincinnati is all about relative affordability; it’s one of the last affordable pockets of inventory available in the country,” says Javier Vivas, manager of economic data for realtor.com.

Relative affordability is also the key selling point for Riverside, CA, which went up 34 spots, and Phoenix, which went up 24. About 60 miles east of downtown Los Angeles, Riverside is a bargain oasis in uber-expensive California, whereas  Phoenix appeals to cost-conscious buyers along the western swath of the country.

The story in Las Vegas, which vaulted 36 spots to No. 53, is a little different.

“Good economic momentum and new construction in Las Vegas are really powering its rise,” Vivas says.

The markets that moved up the most



For other markets, it seems like the good times rolled to a halt—or at least slowed to a crawl—in 2017. Nowhere was this truer than in the Miami area, which tumbled 61 spots to No. 261.

That’s largely because Miami’s real estate market was muy caliente in 2016, setting a bar that was hard to beat. Throw in a couple of hurricanes, and you can see how things got soggy. Still, we’re optimistic about a recovery—we put Miami on our list of the top 20 cities expected to see the most growth in home sales and prices for 2018.



It’s not an entirely sad story for the next two biggest “losers” on the list, either.

“Austin and Oklahoma City have just reached the ceiling in terms of their growth,” says Vivas. “Austin, in particular, has been heating up for four to five years, with strong millennial demand, in particular.” That’s probably because of its vibrant tech sector, cultural scene, and, yep, the barbecue.

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The markets that fell the hardest


Finally, the full list of the hottest markets for 2017 carries on the themes we’ve seen throughout the year. California has been the nation’s star performer, and here it dominates the top six spots—with scrappy Vallejo on top. This once-gritty Bay Area town was anything but a real estate mecca a couple of years back, but it’s risen as a viable housing alternative in the San Francisco Bay Area,  a region plagued by high prices and low inventory.

California’s wildfires, though, are taking a toll: Fire-ravaged Santa Rosa tumbled seven spots, out of the top 10, to land at No. 16. And while we’re not yet seeing the effects on housing from the huge Thomas fire, which broke out on Dec. 4, Oxnard (No. 17) lies just south of its southern perimeter.

The West and Southwest are also represented on the top 20, with a scattering of Midwestern cities in the mix.

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The hottest markets of 2017


The post The Hottest Real Estate Markets of 2017: Who Gained Big, Who Fell Hard appeared first on Real Estate News Insights | realtor.com®.

Article source: https://www.sfgate.com/realestate/article/The-Hottest-Real-Estate-Markets-of-2017-Who-12446749.php?ipid=newsrecirc

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