Heat Brings People
As humans, we seek warmth and avoid the cold. Maybe that explains why Florida and Texas cities make the Ten-X list of hottest single-family housing markets.
Ten-X, an online real estate marketplace, released its Top Single-Family Housing Markets Report for Winter, which ranks the nation’s 50 largest housing markets according to current and forecasted housing fundamentals.
Among the 50 largest US markets, the top five (in order) were Orlando, Palm Beach County, Fort Lauderdale, Tampa and Dallas, each demonstrating a vigorous combination of consistently strong demand, home price appreciation, and economic and demographic growth.
Though Florida metros once again dominated the rankings, there was plenty of movement within the top five slots.
Orlando jumped from fourth to first to overtake Fort Lauderdale as our hottest market, dropping Fort Lauderdale to third, while Palm Beach County remained unchanged in second.
Tampa slipped from third place to fourth while Dallas climbed up to fifth, edging out Las Vegas.
“While most of the cities at the top of the list share common traits like job growth, population growth and economic expansion, many of the cities showing the greatest potential were among those hardest hit during the Great Recession,” said Ten-X Executive Vice President Rick Sharga.
Sharga said that many of the markets hardest hit by the foreclosure crisis still represent buying opportunities for homeowners and investors alike.
Heat will continue to attract people, and they’ll need somewhere to live.
Copyright Today’s Credit Unions