Based on Census data, a new study ranks the top 10 rising U.S. markets in real estate this year, measuring changes in home values, median household income, population and housing growth over the past five years.
Three states are represented in the top 10: California, accounting for six of the top rising markets, and Colorado and Texas, each with two top markets. Midland, Texas and Vista, Calif. tied for fourth place in SmartAsset's ranking; Midland was the highest-ranking market in the list that is not located in California. Midland had population growth rate of 16.1 percent from 2013 to 2017, with 9 percent housing supply growth. In Vista, incomes grew by 26 percent over the four years studied, the second-fastest income growth measured.
The American housing market has changed significantly since the post-recession economy of the early 2010s. Zillow estimates the median home in the U.S. is worth $225,300, up from $148,000 in January of 2012. That is a gain of more than 52 percent in just seven years. If you do want to take advantage of this seller’s market and maximize your savings, it’s important to know not only national trends, but what is happening in local markets as well.
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