While the national housing market is slated to continue cooling in 2019, there are a number of local markets poised to see significant growth.
Inman used Realtor.com’s housing market data to list the 10 hottest housing markets in 2019, with the majority of the list comprised of smaller markets where local economic factors are playing a big role in the housing market. The biggest cities to make the list include Miami (number 9), Boston (10) and Phoenix (5).
Topping the list is Lakeland, Florida, a suburb of Tampa, where a 2.3 percent increase in employment and a nearly 5 percent increase in household income is expected to buoy the housing market, according to Inman.
Together, the top 10 housing markets of 2019 are expected to outpace national home sales by 6 percent and price growth by 3.4 percent, Inman reports. Nationally, home sales are expected to drop by 2 percent and price growth is expected to increase by 2 percent, Inman reported.
The country’s biggest cities are expected to see their housing markets cool off more dramatically than secondary markets. But some pockets of the market in major cities are still seeing strong demand, including the starter-home market. [Inman] — Joe Ward