Several surprising housing markets are expected to see big growth in the new year. Strong economies and a flood of new residents moving in are helping to propel some markets to new levels in 2019.
Realtor.com®’s economic team identified the top metros where both the number of sales and the home prices are expected to move higher in 2019. Researchers also evaluated new home construction in the top 100 largest markets against the local economies and population trends of the areas.
"The diversity of these top markets suggests that real estate can thrive anywhere there is a strong local economy," says Danielle Hale, chief economist of realtor.com®. "While attracting younger individuals and families who are likely to be first-time buyers can be important, real estate can also thrive in sunny retirement communities.”
The hottest housing markets for 2019, according to realtor.com®’s predictions, are:
1. Lakeland, Fla.
- Median list price: $224,950
- Predicted sales growth: 5%
- Predicted price growth: 7.4%
2. Grand Rapids, Mich.
- Median list price: $278,750
- Predicted sales growth: 4%
- Predicted price growth: 8.2%
3. El Paso, Texas
- Median list price: $175,050
- Predicted sales growth: 7.9%
- Predicted price growth: 2.5%
4. Chattanooga, Tenn.
- Median list price: $269,950
- Predicted sales growth: 5.2%
- Predicted price growth: 4.3%
5. Phoenix
- Median list price: $329,975
- Predicted sales growth: 3.6%
- Predicted price growth: 5.6%
6. Bridgeport, Conn.
- Median list price: $749,050
- Predicted sales growth: 5%
- Predicted price growth: 4%
7. Las Vegas
- Median list price: $320,049
- Predicted sales growth: 0.9%
- Predicted price growth: 7.9%
Source: “The 10 Surprising Housing Markets Poised to Rule in 2019,” realtor.com(R) (Jan. 2, 2019)
