To welcome spring, here are the best single-family housing markets [Video]
Posted on Monday, March 7, 2016 at 11:44:12 AM
Though spring doesn't officially begin until March 20, it can already be felt in the air. Before it arrives, however, Ten-X - formerly Auction.com - has compiled a list of the best single-family housing markets this winter season. From the nation's top 50 markets, they've drawn five that offer a great combination of affordability, strong demand and proven solid economic conditions.
"The U.S. housing market recovery continues to be supported by underlying economic fundamentals, particularly the improved labor market," said Peter Muoio, Ten-X chief economist. "Though new regulatory procedures induced some volatility in late 2015, home sales continued at a healthy pace, and while tight inventory of homes constrained improvement in sales, it has contributed to accelerated gains in home prices."
Seattle, Wash. took the top spot on Ten-X's list by riding a wave of explosive employment gains in the tech and information sectors. Home prices have risen 9.4 percent in the last year, but home sales haven't been far behind as Seattle residents put residential financing to use.
Fort Lauderdale, Fla. took the silver medal with its second place finish. Population growth has slowed in the city, but job growth - particularly in the professional/business and leisure/hospitality sectors - has fueled a nearly 8 percent jump in home sales year-over-year.
Orlando, Fla.; Portland, Ore.; and Las Vegas, Nev. rounded out the top five single-family housing markets.