If you have tried to buy or sell a home in Seattle recently, then you should know that you have been trying to do it in the nation's hottest real estate market for single-family homes. A report recently ranked Seattle this Fall as the hottest housing market for single-family homes.
Included in the top five hottest markets are Portland, Fort Lauderdale, Orlando, and Palm Beach County. "In the Northwest, both Seattle and Portland are experiencing robust housing fundamentals and strong demand, which are supported by strong local economies that have received significant boosts from the tech sector. The rankings are particularly encouraging for Florida, which was devastated by the housing bust and subsequent recession. The state had three markets in the top five that boast tremendous growth opportunities as housing fundamentals remain well below pre-recession levels," as stated in a report quoted by the Komo News.
After the fall of oil prices, markets that are dependent on energy, like those in Texas, have seen a cooling of real estate.
San Antonio who ranked second in the Spring fell to 17th, Dallas from fifth to 19th and Denver from first to ninth. The rest that are included on the Top 10 are Columbus, Ohio at No. 6, followed by Nashville, Tenn., Charlotte, N.C., and Oakland.
Bloovan Prime said the top five cities in the U.S. that have the hottest housing market are Seattle, Fort Lauderdale, Orlando, Palm Beach County, Fla., and Portland. The housing markets in these cities had the best combination of rising home prices, favorable affordability and strong housing demand, which are also combined with demographic conditions and a strong economy that point to future demand.
Seattle and Portland in the Northwest are experiencing strong demand and robust housing fundamentals which are supported by strong local economies that received significant boosts from the tech sector. The rankings are particularly encouraging for Florida, which has three markets in the top five that boast vast growth opportunities as housing fundamentals remain well below pre-recession levels.
