8 Hottest Housing Markets Projected For 2015

By on July 1, 2015

However, with the market heading in the right direction, albeit at a slow pace, Millennials are positioned to actively participate in the housing market for the first time in years. With the impending return of Millennials, some markets are expected to benefit more than others. Realtor.com crunched more than 15 data points, including population growth, affordability and employment, to come up with a list of 8 housing markets that will record the fastest sales growth in 2015 and beyond.

Hottest Housing Markets Projected For 2015

Atlanta, GA

Whereas Atlanta was one of the hardest hit cities during the recession, it is poised to make significant contributions during the upcoming Millennial influx. Relatively low home prices have created a market that is very attractive to first-time buyers. If things continue to trend in favor of Millennials, the metro area is expected to see a 6% increase in home owning households. In fact, Realtor.com has already forecasted an 11% increase in home sales over the next year. Atlanta began to recover much later than other markets, but is showing signs of returning to its prior form. Leading the country in population and household growth is not out of the question.

Dallas, TX

Housing markets located in the Lone Star state have remained relatively immune to volatile conditions. Having said that, the Dallas metro is no exception. Home prices in this region continue to remain fairly stable during both boom and bust years. At the moment, conditions are leaning in favor of a buyers’ market. Realtor.com has predicted a 7% increase in home sales over the course of 2015. Conditions in Dallas may be attributed to the strong job sector, as the city is on pace to set a new employment record in 2014, and is forecasted for 3% growth in 2015. Perhaps even more impressively, Dallas is expected to lead the country in new housing formation over the next five years. Millennials looking to take advantage of a good market will look to Dallas for the foreseeable future.

Des Moines, IA

While certainly smaller than the other cities on this list, Des Moines doesn’t necessarily represent the epitome of a hot housing market. However, this small Midwestern city has something to offer that not many other metros can boast: affordability. A median-priced home costs $180,000, well below the national median of $221,000. At that rate, Millennials will look to Des Moines as a potential destination. Having already acknowledged the influx of first-time homebuyers expected to enter the market in 2015, it is no wonder why experts are predicting Des Moines to have a big year.

Denver, CO

Since the recovery began, Denver has touted one of the stronger local economies. Metro area unemployment is below average while job growth is higher. Denver has already recovered all the jobs lost in the recession, which has helped fuel a hot housing market. In fact, the economy in Denver is so promising that Realtor.com expects home sales to increase by as much as 14%, the highest of any market. Millennials are projected to play a large role in the upcoming home sales, as the encouraging job sector will attract many first-time homebuyers.

Houston, TX

Despite being in a relatively quiet Texas housing market for the better part of a decade, Houston has emerged as one of the most active regions in the country. Similar to that of its Texas counterpart (Dallas), Houston has been able to leverage an extremely well preserved job sector. Houston is on pace to set an employment record this year, adding jobs at twice the national rate. Much like Dallas, the draw of new jobs is promising to the housing market as a whole. Millennials will find comfort in knowing the direction of the Houston job sector.

Los, Angeles, CA

Despite being in a California market that boasts several of the country’s most overpriced cities, Los Angeles is still positioned to be one of the hottest markets in 2015. However, don’t let the title fool you. The mere placement of Los Angeles on this list is a testament to the city’s sheer size. The metro area population has surpassed 13 million — even moderate household percentage growth translates into a lot of people. As it stands, Realtor.com has Los Angeles down for a 6% increase in home sales over the next year.

Minneapolis, MN

Minneapolis is on this list for many of the same reasons as Des Moines.

Read more at MH Property Services 909

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