Fusion 360
The website realtor.com recently compiled a list of 2015’s hottest housing markets. Overall, these housing markets were selected based on 15 data points, including affordability, employment and population growth. Moreover, all new home sales in the United States should increase by 25 percent in 2015 and the age of individuals purchasing homes is predicted to be lower than ever before.
Denver is a bustling metropolitan area that has a higher employment rate than the national average. Furthermore, Denver has recovered every job that it lost when the most recent recession hit. Overall, home sales in Denver should grow by 14 percent in 2015, the largest growth of any area.
Dallas is an area where the economy is fairly steady, even during a recession. Furthermore, in 2015, Dallas is predicted to experience a three percent growth in employment, making its employment rate far above the United States average. Fortunately, high employment rates attract residents who often work with mortgage companies to purchase a home.
Atlanta is expected to receive a large amount of new homeowners in 2015. Moreover, in the next five years, the metropolitan area of Atlanta is expected to see a six percent growth in the amount of households that own their home.
Many mortgage companies were surprised to see Des Moines on the list of 2015’s top housing markets. However, experienced mortgage companies understand that individuals are drawn to this area because the average price of a home is much lower than the national average.
After the recession, home construction in Phoenix has grown considerably. Furthermore, realator.com surprised many mortgage companies when they announced their forecast of a 22 percent rise in housing starts in Phoenix for 2015.
Mackenzie Martin is a finance writer. Information provided by Castle & Cooke Mortgage (NMLS# 1251). Mackenzie writes for Fusion 360, an advertising agency in Utah. Find her on Google +.
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