Phoenix is projected as the top housing market in the country for next year, according to a new forecast report by Realtor.com.
The real estate group expects Phoenix housing to see price gains of 5.9 percent and sales growth of 7.2 percent.
That earns the Valley the top spot.
Los Angeles ranks second, Boston third. Sacramento and Riverside round out the top five. Tucson is picked as the ninth strongest housing market next year, by Realtor.com’s forecasters.
The housing forecast projects slower but moderate growth in 2017 with eyes on a potential interest rate hike.
Realtor.com is an arm of media giant News Corp.
Nationally, the forecast calls for a 3.9 percent gain in home prices. That is slower than the past couple of years.
New home sales are estimated to increase 10 percent and new home starts 3 percent next year.
The real estate forecast expects 2.1 percent economic growth in the U.S. in 2017.
“We don’t expect the outcome of the election to have a direct impact on the health of the housing market or economy as we close out 2016. However, the 40 basis points increase in rates in the days following the election has caused us to increase our interest rate prediction for next year,” said Jonathan Smoke, chief economist for Realtor.com referring in part to Donald Trump’s presidential election.
The real estate group also expects Midwestern cities such as Madison, Wisconsin; Columbus, Ohio; Omaha, Nebraska; Des Moines, Iowa; and Minneapolis to be attractive to younger home buyers.
Those markets have affordable prices — compared to larger, mostly coastal cities — and are often college towns or have positive job markets.
Realtor.com projects Chicago with the weakest housing market in 2017 among the 100 top U.S. metros.
CLIENT SERVICE GUARANTEE: American Allstar Realty is committed to providing every customer with the highest level of service. As your agent, I promise to always remember that YOU are the most important person in the transaction. At American Allstar Realty, we believe that communication is the cornerstone to a successful transaction. Please feel free to communicate your wants and needs to me as frequently as possible. If I am ever unavailable to receive your call, I promise to return your call as soon as possible; normally in less than one hour.
Buying or selling a home is about much more than just the price you pay for a piece of land. Selecting a property to become your home or place of business is what it is really about, and that's why I enjoy helping my clients buy and sell real estate. My clients come to me because of my knowledge of the industry and my familiarity wi th the area. I can help you find that "dream" home. Call me today and let's get started!
To navigate the complex decisions involved in today's real estate market requires the guidance of a professional. I am committed to service with an emphasis on accountability, reliability, timeliness and enthusiasm. I provide my clients with all the information necessary to help them make real estate investment decisions throughout the changing market cycles.
A successful real estate transaction is built upon the strength of relationships and the experience of how to get things done. I am well respected by my peers, and have developed invaluable working relationships with other professionals in my industry such as title companies, attorneys, lenders and appraisers.
In a market where current inventory is low, it’s normal to
"Kelley kemmis for the win. Getting a realtor who is patient, knowledgeable, and able to give you a flawless and amazing experience from the start is a rare thing.. BUT.. enter, Kelley kemmis. She is all of that and more. Multiple successful closings for numerous of my close friends is enough proof that her competence in the industry is unsurpassable.
She is a 5 star realtor, and will give any client what they deserve and get you in to the home you've always dreamed of."