Check out this Great Article by MADILINE STOWE!
As the housing recovery continues into 2014, some new real estate markets will start getting more attention.Real estate site Trulia has come up with a list of the top 10 housing markets to watch in 2014.
Jed Kolko, Trulia's chief economist, told Business Insider that two main factors were considered when compiling the list. "Markets that have faster job growth tend to have stronger housing," Kolko said. "We looked at job growth over the past year, and also over a longer period of time. Housing markets don't only depend on what's happening today in the economy, but where it's going in the longer term." Construction activity in 2013 was the other main consideration in compiling Trulia's list. "We looked at whether builders are betting on local markets, since builders build in markets where they think will be demand," Kolko said. The cities that made the list may be surprising to some, and there's a reason for that.
The survey excluded regions where homes tend to be overvalued, such as the coastal areas of California. They also didn't consider areas where rates of foreclosure were high, as they are in parts of Florida.
Denver, CO
Job growth: 2.6% Construction permits (relative to average for area since 1990): 94% The Denver housing market is significantly healthier than it was at this time a year ago. 5,337 homes were under contract this September, compared to 4,457 in September 2012, and average selling prices are up 8% from a year ago. "We are seeing homes sell for prices that exceed any time in our history," Steve Blank of Fuller Sotheby’s International Realty said to Colorado's Inside Real Estate News. "Denver is leading the way."
Pictured: 380 Fillmore Street, Denver ($2,450,000)
Other cities on the top 10 list:
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