Realtor.com has picked the Phoenix-Mesa-Scottsdale market as the No. 1 housing market for 2017 based on price and sales gains.
Metro Phoenix home prices are expected to increase 5.9 percent next year, while sales jump 7.24 percent, according to realtor.com.
The other hot markets are Los Angeles, Boston, Sacramento and Riverside-San Bernardino. Tucson comes in at No. 9.
Despite a more moderate housing market nationally in 2017, strong local economies and population growth will continue to fuel the nation’s hottest markets, according to realtor.com
The 2017 national real estate market is predicted to slow compared to the last two years, across the majority of economic indicators. Home prices are anticipated to increase 3.9 percent and existing home sales are forecasted to increase 1.9 percent to 5.46 million homes. Interest rates are expected to reach 4.5 percent due to higher expectations for inflationary pressure in the year ahead.
The full realtor.com article can be found here: http://bit.ly/2g08Dd8