Which markets in the next year will combine rising home values, low unemployment and strong income growth?
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Zillow announced its predictions for 2017’s 10 hottest housing markets today, with Nashville, Tenn., topping the list.
“To determine which markets would heat up over the next 12 months, Zillow looked for places with quickly rising home values, low unemployment rates and strong income growth,” the company said in a news release.
Nashville made the top of the list driven largely by a boom in the local healthcare industry. The city has become a major healthcare employer, according to Zillow.
While Nashville took the top spot, western cities featured heavily on Zillow’s list. With home value growth in the double digits, Seattle ranked number 2 on the list, while Provo, Utah’s low unemployment rate helped propel it to number three.
Here are the hottest markets for 2017, according to Zillow:
1. Nashville, Tenn.
2. Seattle
3. Provo, Utah
4. Orlando, Fla.
5. Salt Lake City, Utah
6. Portland, Ore.
7. Knoxville, Tenn.
8. Ogden, Utah
9. Denver
10. Sacramento, Calif.
"Zillow's 2017 list highlights that jobs and opportunities are increasingly growing in smaller markets away from the coasts," said Zillow chief economist Dr. Svenja Gudell. "Mid-size cities like Salt Lake City, Portland, and Nashville are desirable places to live, with good employment opportunities and steady economic growth. The growth and demand for housing will drive up home prices in 2017, and these hot markets are experiencing change as more people discover them."
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“To determine which markets would heat up over the next 12 months, Zillow looked for places with quickly rising home values, low unemployment rates and strong income growth,” the company said in a news release.
Nashville made the top of the list driven largely by a boom in the local healthcare industry. The city has become a major healthcare employer, according to Zillow.
While Nashville took the top spot, western cities featured heavily on Zillow’s list. With home value growth in the double digits, Seattle ranked number 2 on the list, while Provo, Utah’s low unemployment rate helped propel it to number three.
Here are the hottest markets for 2017, according to Zillow:
1. Nashville, Tenn.
2. Seattle
3. Provo, Utah
4. Orlando, Fla.
5. Salt Lake City, Utah
6. Portland, Ore.
7. Knoxville, Tenn.
8. Ogden, Utah
9. Denver
10. Sacramento, Calif.
"Zillow's 2017 list highlights that jobs and opportunities are increasingly growing in smaller markets away from the coasts," said Zillow chief economist Dr. Svenja Gudell. "Mid-size cities like Salt Lake City, Portland, and Nashville are desirable places to live, with good employment opportunities and steady economic growth. The growth and demand for housing will drive up home prices in 2017, and these hot markets are experiencing change as more people discover them."
Related stories:
This is the most competitive US housing market
US homes worth more than ever before
