If a new Zillow data
forecast turns out to be correct, it appears that the housing market theme song for this year will be “Do You Know the Way to San Jose?”
It’s annual forecast of what could be the hottest housing markets of the year, San Jose topped the list with a projected nine percent rise in home values. Zillow noted that San Jose home values skyrocketed by 78 percent over the past five years, and the median home value for that market is more than $1 million while the median rental price is $3,514 per month.
Rounding out Zillow’s top 10 list of the hottest housing markets for 2018 are Raleigh, N.C.; Seattle; Charlotte, N.C.; San Francisco; Austin, Texas; Denver; Nashville; Portland, Ore.; and
"This list shows that just because a market is smaller or more affordable doesn't mean it isn't dynamic," said Zillow Senior Economist Aaron Terrazas. "Growing cities in the Sun Belt, places like Raleigh, Charlotte and Nashville, offer plenty of opportunities healthcare and finance, while providing a less-expensive, but still-convenient, alternative to the larger and pricier markets in the Northeast. The tech industry continues to roar, attracting thousands of new residents per year to tech-dominant markets like Seattle, Denver and the Bay Area. The higher cost of living in these areas is offset to a large degree by well-paying tech jobs."