Since the economic crash in 2008, the housing market has suffered. However, slowly the market has been improving. Jonathan Smokes, chief economist at realtor.com, claims that the market has, for the most part, fully rebounded. As the job market continues to steadily improve, the housing market grows too. Household incomes are starting to become more stable and people are slowly starting to feel more secure in their finances again. As a result, people are looking to buy, especially first-time homebuyers. Real estate predictors have predicted a 25% sales increase in the housing market for 2015. Housing sales prices were predicted to increase by 5% in 2015 and by another 4% in 2016. This predictions are for real estate nationwide. This does …show more content…
However, regardless of this city’s slow climb to recovery, Atlanta is finally showing very positive signs of rebounding. Smoke says that the Atlanta market should expect to experience a 7% growth in total household sales over the next five years. Atlanta is also experiencing a healthy growth in employment. Along with improved household incomes in this city, Atlanta’s housing market is still affordable compared to other markets. Increased employment and affordability make a great formula for a speedy housing market recovery, making this a great city to sell real estate in. Denver, CO Denver is another great city to set up shop for selling real estate. Since the recovery from the housing market burst, this city has had one of the strongest local economies. Denver has set records for job creation and has seen a nice population increase as a result. It is also on track to experience the largest percentage increase in home sales of any major market in the United States. Impressively, home prices have fully recovered and predictions state a 3% growth in home prices throughout 2015 and …show more content…
This is due to jobs flowing back into the city. America’s second-largest city’s employment is on track to get back to pre-recession numbers by the end of 2015. Regardless of the increasing home prices, Los Angeles continues to grow and thrive. Phoenix, AZ Phoenix has been enjoying housing market growth due to new construction. This city is one of the top five markets for new construction and continues to experience an increase in household growth and overall population. Predictions look forward to an increase of 7% growth for the housing market over the next five years. Phoenix is still recovering from the recession, but continues to be relatively affordable. Employment and income are also on the rise, making this city a great place to sell real estate. San Jose, CA With San Jose located in the heart of Silicon Valley and being home to its world-class technology companies, it’s no surprise that it is on our list. This city is setting new records for job creation, their unemployment remains low, strong economy and their housing prices have fully recovered. All this together sets the perfect stage for a great city to sell real