Home demand has changed this year. In the past, buyers flocked to expensive coastal metros like San Francisco and Seattle. Now, however, according to Zillow, mid-sized cities such as Boise, Syracuse and Portland, Maine are now leading the country as “top markets poised for growth.”
Zillow says these are the metros to watch:
1. Boise, Ida.
Population: 616,561
Typical Home Value: $334,965
2. Huntsville, Ala.
Population: 417,593
Typical Home Value: $203,242
3. Ogden, Utah
Population: 597,159
Typical Home Value: $344,816
4. Spokane, Wash.
Population: 527,753
Typical Home Value: $293,655
5. York, Pa.
Population: 434,972
Typical Home Value: $195,837
6. Colorado Springs, Colo.
Population: 645,613
Typical Home Value: $336,927
7. Lancaster, Pa.
Population: 519,445
Typical Home Value: $242,009
8. Modesto, Calif.
Population: 514,453
Typical Home Value: $340,762
9. Syracuse, N.Y.
Population: 662,577
Typical Home Value: $154,596
10. Visalia, Calif.
Population: 442,179
Typical Home Value: $232,800
11. Portland, Maine
Population: 514,098
Typical Home Value: $334,650
12. Lansing, Mich.
Population: 464,036
Typical Home Value: $170,011
The analysis considered several factors, such as market demand, continued opportunity for growth, recent and forecasted home value growth, the share of homes sold above list price, and days on market.
Boise ranked No. 1 for drawing in all generations of movers due to strong home values and a quick five days on market. Next up was Huntsville, where home values have increased 11.5 percent YoY and home values are forecasted to increase 5 percent YoY. At No. 3 was Ogden, where 41.5 percent of homes sell above list price and home values are forecasted to increase 4.6 percent in the next year.
For more information, please visit www.zillow.com.
