Which among the cities are boosting growth in the real estate market this 2016? Is San Francisco continually one of the toughest contenders among the other places scoured in 2015? CNN Money determines the top five strongest real estate markets this new year.
1. Providence Island, RI
Providence Island is completely hitting some positive marks in the real estate market and the rise of a probable 10% on sales is not surprising. According to Chief Economist Jonathan Smoke of Realtor said, "Providence is closely connected to Boston, which continues to show incredible economic growth. There is a quite a bit of positive spillover effect."
And in regards to this positive performance the article notes that, "As more house hunters push outward looking for more affordable housing options, home sales and prices in Providence are expected to rise 10% next year compared to 2015."
2. St. Louis, Missouri
The city in Missouri which lies along the Mississippi River is expected to make a good outcome for 2016.
"Home sales are forecast to rise nearly 9% next year in St. Louis thanks to strong employment and median wage growth." as cited from the publication.
3. San Diego, California
San Diego is also expected to bring out great increase in 2016. There are a couple of reasons that makes the city an eye appeal for home lookers and those are the famous beach spots and the amazing weather conditions.
"New construction has been strong in the city known for its beautiful beaches and nearly-perfect weather, and inventory moves fast. Homes prices are expected to increase almost 10% in 2016." details the article.
4. Sacramento, California
Another location spot in California that is hitting off a large pitch in the real estate scene is Sacramento. The capital city in Cali is expected to climb 10% higher this year and increased its home sales by 7%. The reason for this exceptional leap in the city was due to the low unemployment rate.
5. Atlanta, Georgia
The most populous city in the US is now merging an outstanding stance in the real estate market. "It's a market that has quickly transitioned from a buyer's market to a seller's market."
The outlet reported that Atlanta's "Median home prices are expected to rise 9.6% and "It's a market that has quickly transitioned from a buyer's market to a seller's market."
