The real estate market has been hot over the past few months but has recently slowed down a bit across the country. Despite the slowdown, some markets are still on fire due to low unemployment, strong new job opportunities, and people in search of a better quality of life.
As a nationwide Appraisal Management Company, ACT Appraisal provides appraisal services in all 50 states, D.C & Puerto Rico. Our network of professional appraisers are geographically competent and will provide you with an accurate appraisal. We’ve looked at the housing data and here are the top hottest housing markets in 2018.
1) San Jose
With high prices and a housing shortage, many people have been priced out of San Francisco. Located close to the big tech companies like Google and Facebook, San Jose is the hottest housing market in the United States. Sales have remained strong in the recent months and there are still houses available for under a million dollars.
Median home value: $1,128,300
With a strong job market, top universities, and new construction, Raleigh has become one of the hottest housing markets in the country. Over the past few years, Raleigh has attracted many young people looking to set down roots. With a median household income of over $71,000, the median home value of $233,000 is still affordable for many young families.
Median home value: $233,900
Home to Starbucks and Amazon, Seattle has had an influx of new residents in the recent years. For the past 18 months, Washington had the fastest-rising home prices in the country, but the prices have held steady or dropped in recent months. While the housing market in Seattle has slowed down a bit, the market is still hot with limited supplies of available affordable houses for new buyers.
Median home value: $463,800
Charlotte is the Old South meets high-tech cosmopolitan city. The city is filled with great restaurants, green spaces, and public transportation making it an ideal location for many young families. Home to American Airlines, Charlotte is also a great business hub for many business travelers. The housing market has been hot in Charlotte for the past few years and real estate has become scarce driving up the median home value. With the median home value under $200,000, homes are still affordable for many. Hope the final version does not have a watermark in the image.
Median home value: $181,600
5) San Francisco
Well known for its limited housing supply and high prices, San Francisco is still a bustling market. Ideally located near Silicon Valley and wine country, San Francisco attracts some of the brightest minds in the country, yet much of the city is rental properties with a median rent of $3,400. Affordable housing in the Golden Gate City is scarce.
Median home value: $893,100
The city of Austin and Central Texas has been booming in the recent years. The job market is good and young people from around the country are flocking to the city in droves. With a high demand and strong economy, builders have been working non-stop to keep up with the housing demand. With a higher than average median income and affordable home prices, there’s no question why Austin is a hot market in 2018.
Median home value: $277,600
For those who want to live in a big city, but still want to escape to the mountains on the weekend, Denver is a great place to call home. Denver has a strong job market, excellent schools, and a healthy lifestyle. Home values have risen about 3% in the past year and there is enough inventory for those still shopping around.
Median home value: $376,500
Home to country music, Nashville has quickly risen to be one of the most popular cities even if you don’t like country music. The job market is rapidly growing, the food is incredible, and there’s always a sports game or live show to catch. Roughly 95 new people move to Nashville every day, after a visit you’ll know why.
Median home value: $228,900
9) Portland (OR)
Known to be a little on the weird side, Portland attracts people who like a good balance of work and play. Locals are friendly and laid-back, and the city offers great public amenities. The city is located close to the mountains, ocean, and numerous wineries. Although housing prices continue to climb, the market has cooled off this year.
Median home value: $370,700
Although the housing market has slowed a bit in the recent months, the demand for affordable housing in Dallas is still high for first-time buyers and investors. The Dallas metro area has been attracting young families and professionals for years with its big city life and suburban living. Even though the city is big, there is very much a community small-town feel. Additionally, the job market is strong with numerous jobs available in finance, healthcare, and aviation and aerospace.
Median home value: $218,300
No matter where you call home this year, ACT Appraisal is a truly nationwide Appraisal Management Company. We can help you with the refinancing or mortgage lending process today. Contact us for more information!