While Denver’s real estate market is experiencing a bit of a cooldown, house hunters in the Mile High City know that prices here are still high. Still, if you know what pockets to search in, there
Denver Housing Market Ranks Third In The Nation
While it may feel like everyone in the country is flocking to Denver, according to a new report from Zillow, Silicon Valley actually takes the top spot in terms of hot housing markets. Coming in at #3, however, Denver isn't too far behind.
To determine the nation’s hottest housing markets, Zillow looked for cities with strong income growth, low unemployment rates, growing populations, and home values and rents that are on track to outpace the rest of the nation in 2019.
According to the data, San Jose came in first as the hottest housing market for the second year in a row. Zillow’s research shows that the Northern California city has the lowest unemployment rate and the most jobs per person out of the 50 largest metros in the country. It also boasts the highest home values as well as the highest forecasted home value appreciation.
The rest of the list, however, indicates a shift in the overall housing market.
Zillow Senior Economist Aaron Terrazas said that Silicon Valley's jobs market has propelled the region's housing market, which they expect to continue into the early months of 2019. However, there are some signs that the trend is moving away from the West Coast and toward the South and Southeast. He also said affordability is attractive for both young professionals and booming businesses, which makes markets like Orlando, Minneapolis, Dallas and Nashville very desirable in 2019.
Here are the cities that made Zillow’s list of hottest markets:
If you’re ready to explore homeownership in Denver, you’re in good company. Our market remains fairly competitive, but there are still some great deals to be found, especially if you know where to look. Contact Metrowest today – we’d love to show you around!
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