Cities in Washington, Oregon, Idaho, and Colorado are projected to have 17 of the hottest 25 housing markets this year.
HousingWire examined the most recent VeroFORECAST, a quarterly national real estate market forecast from Veros Real Estate Solutions. Larger markets such as Seattle, Denver, Portland, and Boise, along with smaller ones including Bend, Ore., Bellingham, Wash., Greeley, Colo., and Idaho Falls, Idaho, are all expected to have 7 percent or better home price appreciation.
Once a hot market, Florida has slunk down to the middle of the pack. Only three markets in the state made the list, with Tampa ranking highest at No. 15 (8.1 percent appreciation).
The site also ranked the bottom 25 markets, 11 of which are projected to have negative appreciation. Many of the bottom 25 markets are east of the Mississippi River, with several in the New York-New Jersey region.
The bottom 25 markets on the list, despite coming in at the end, are actually performing better overall. Fox noted that the number of depreciating markets has been cut in half from roughly 7% during last quarter’s update — to only a scant 4%. This is attributed to the markets in portions of the country such as Connecticut or New Jersey moving from slightly depreciating in previous updates to slightly appreciating in this report.