Zillow has released its list of Hottest Housing Markets for 2016. Seattle ranks no. 2 in the hottest real estate market. Thus, those who want to invest in "Emerald City," can find out the hot areas in the neighborhood below.
According to Zillow, housing experts have predicted that "U.S. home value growth around 3.5 percent this year." It is anticipated that Denver would be leading the charge followed by "Seattle; Dallas-Fort Worth; Richmond, Va.; Boise, Idaho; Ogden, Utah; Salt Lake City; Omaha, Neb.; Sacramento, Calif.; and Portland, Ore."
Report notes that the ranking of these 10 hottest housing markets for 2016 is based on 3 variables only. These are "home value appreciation, unemployment rates, and income growth." It has been explained that the combination of these 3 elements provides "a better feel of a local economy and the underlying strength of its housing market."
Business Insider also quotes Zillow Chief Economist Dr. Svenja Gudell saying that "this year, the markets that shine brightest will be those that manage to strike a good balance between strong income growth, low unemployment and solid home value appreciation."
From the report, it is mentioned that as the job market moves ahead, there will be a lot of opportunities. In that way, "the best housing markets are no longer limited to the coasts or one-industry tech towns." 2016's hottest markets become widespread but it will surely have something for home buyers who are either looking for a house to raise their family or moving in for a new career.
On different news, Seattle being one of the Trendy Tech Centers in the US has hot area neighborhoods. Geek Wire reports these hot area neighborhoods of Emerald City. First on the list is Northwest Bellevue. It is noted that in this area, there will be a 9.2 % forecasted home value growth. Second is the University District and Holly Park. Report says that these neighborhoods will have 8.3 % forecasted home value growth. Third on the list is the Olympic Manor with 8.2 percent forecasted home value growth. Fourth, Fremont and South Delridge with forecasted home value growth of 7.9 %. Lastly, Bryant neighborhood in northeast Seattle, Washington will have 7.7 % forecasted home value growth.
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