10 Housing Markets to Watch in 2018
According to the 2018 Housing Forecast published by Trulia, there are several factors that could impact the housing market this year. One factor that will continue its upward movement in 2018 is the rate of homeownership.
“Homeownership will continue its comeback story in 2018, as Gen Xers who were hard hit during the Great Recession become homeowners again, and as more millennials buy homes for the first time,” says Ralph McLaughlin, chief economist who developed the forecast, at Trulia.
Just because the demand for housing is there, doesn’t mean home buyers won’t still face the low inventory challenges, slow wage increases and expensive starter homes. Trulia researches found ten housing markets that could provide a positive alterative for home buyers looking to get in on the homeownership game in 2018. Economic factors such as employment growth, entry-level supply and vacancy rates where taken into consideration when Trulia researchers put this list together. The ten housing markets to watch in 2018 are as follows:
- Grand Rapids, Michigan
- Nashville, Tennessee
- Raleigh, North Carolina
- El Paso, Texas
- San Antonio, Texas
- Fort Worth, Texas
- Austin, Texas
- Columbus, Ohio
- Madison, Wisconsin
- Cincinnati, Ohio
The forecast’s number one city, Grand Rapids is also 11th in employment, 16th for its vacancy rate and the 17th in its share of under-35 households, which is a key indicator of a growing home buying population.
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