As an agent, it’s crucial to know the cities and surrounding areas that are getting the most business. Maybe your clients are looking for a home in the country’s biggest nightlife scene, or maybe someone’s looking to sell their home in a quieter suburban area. If you’re looking to up your ante as an agent this year, these housing markets are the ones to keep an eye on.
San Jose, California
Competition is high, and the market is booming in Northern California. The area of San Jose, in particular, topped Redfin’s list of 2018’s hottest neighborhoods, with many people looking to relocate here from the pricey San Francisco area. Prices are still upwards of a million dollars, a common occurrence for neighborhoods surrounding the Bay Area. The stakes are high, but the competition only makes agents more eager to get their hands on this real estate gold.
Las Vegas, Nevada
Las Vegas experienced a lot of growth in 2017, and it looks like that’s only going to continue in 2018, with the city named the hottest real estate market in the US by Realtor.com. With a lot of developments popping up and the steady growth of the economy, people are looking to move to this happening town. However, a hot housing market doesn’t always mean there’s a lot of options to choose from. If you’re looking to sell, the seller’s market in this city is better than it has been in years.
Texas is another state to watch out for this spring, which is no surprise to the industry. It’s predicted to have an increase of 6 percent in sales, with continual growth in the amount of homes on the market. The area is also likely to see success with millennial buyers, who are expected to account for nearly 40 percent of home mortgages.
New construction, an improved metro system, and a dip in housing prices is predicted to result in a thriving market for Denver this year. Inventory in the Denver-Boulder area is dwindling, making for an ideal market for the seller. However, millennials are continuing to flock here with hopes of planting roots in the surrounding area. It may not be the best market for buying compared to selling, but Denver is still on people’s radars for both.
If you are looking to move away from or settle down in one of the above metropolitan areas, this spring’s market predictions may be just the signs you were looking for.