Always nice to see Denver ranking in the Top 10 of lists that come out, and we have known our real estate market has been HOT. Just surprised we were only #9! I think if we had more inventory, we would have ranked higher.
The prediction for 2021, will be those cities with tech hubs, strong job creation and homes that have more square footage for their money. It most likely will be smaller cities with greater affordability, according to REALTOR.com®.
Currently, the national median home price is $348,000, and the predictions for cities that will flourish will be those with higher median home prices. The tech jobs will draw buyers to cities with more opportunity for growth. Also, to those cities with stable economy.
For 2021, cities on this list are expected to experience higher home value growth, and upwards of 7% increases in home values in the next year. Sales will jump upwards of 13% in most of these cities, with 7% being the national average.
Some factors that went into this list, was the number of home sales, rate of new construction, previous and anticipated economic behaviors, and household income growth. There were 100 of the largest metro areas studied.
1. Sacramento, Calif.