15 sizzling housing markets of summer '17
July 13, 2017 7:09 PM
Mortgage and real estate pros are in the midst of a sizzling hot housing market this summer. Consumer demand continues to increase, especially in the South and Southeast where there is strong population and job growth. While the number of homes available for sale is also rising, it's not keeping up with demand and available inventory is shrinking.
From Indianapolis to Nashville, here's a look at the 15 hottest residential real estate markets of summer 2017. The rankings, by online real estate marketplace vendor Ten-X, take into account pricing, sales, affordability, permit activity, economic and demographic growth, as well as forward-looking data like economic forecasts and population trends. Each slide details year-over-year changes in seasonally adjusted median prices of existing homes and seasonally adjusted annual rate of existing home sales for the first quarter of 2017.
From Indianapolis to Nashville, here's a look at the 15 hottest residential real estate markets of summer 2017. The rankings, by online real estate marketplace vendor Ten-X, take into account pricing, sales, affordability, permit activity, economic and demographic growth, as well as forward-looking data like economic forecasts and population trends. Each slide details year-over-year changes in seasonally adjusted median prices of existing homes and seasonally adjusted annual rate of existing home sales for the first quarter of 2017.
Waldteufel - stock.adobe.com
No. 15: Indianapolis, Ind.
1Q17 Home Price: $163,174 (+5.4%)
1Q17 Home Sales: 31,868 (+4.5%)
1Q17 Home Sales: 31,868 (+4.5%)
David Crowther/Legacy Images - Fotolia
No. 14: Salt Lake City, Utah
1Q17 Home Price: $288,137 (+10.2%)
1Q17 Home Sales: 15,471 (+4.3%)
1Q17 Home Sales: 15,471 (+4.3%)
Adahm Faehn/Scruggelgreen - stock.adobe.com
No. 13: Minneapolis, Minn.
1Q17 Home Price: $254,655 (+7.0%)
1Q17 Home Sales: 67,159 (+5.8%)
1Q17 Home Sales: 67,159 (+5.8%)
Dave Newman - Fotolia
No. 12: Washington, D.C.
1Q17 Home Price: $629,669 (+14.1%)
1Q17 Home Sales 10,685 (+5.6%)
1Q17 Home Sales 10,685 (+5.6%)
Konstantin L - Fotolia
No. 11: Raleigh, N.C.
1Q17 Home Price: $251,559 (+7.3%)
1Q17 Home Sales 29,011 (+6.7%)
1Q17 Home Sales 29,011 (+6.7%)
Zack Frank - stock.adobe.com
No. 10: Columbus, Ohio
1Q17 Home Price: $188,259 (+4.7%)
1Q17 Home Sales: 42,761 (+5.6%)
1Q17 Home Sales: 42,761 (+5.6%)
thejimcox - Fotolia
No. 9: Jacksonville, Fla.
1Q17 Home Price: $206,883 (+10.2%)
1Q17 Home Sales: 34,442 (+5.3%)
1Q17 Home Sales: 34,442 (+5.3%)
littleny - stock.adobe.com
No. 8: Tampa, Fla.
1Q17 Home Price: $187,810 (+9.3%)
1Q17 Home Sales: 70,593 (+5.3%)
1Q17 Home Sales: 70,593 (+5.3%)
Michael - stock.adobe.com
No. 7: Las Vegas, Nev.
1Q17 Home Price: $233,923 (+8.2%)
1Q17 Home Sales: 80,693 (+9.4%)
1Q17 Home Sales: 80,693 (+9.4%)
Ron Chapple Stock/iofoto - stock.adobe.com
No. 6: Charlotte, N.C.
1Q17 Home Price: $217,821 (+10.9%)
1Q17 Home Sales: 39,223 (+6.5%)
1Q17 Home Sales: 39,223 (+6.5%)
Dean Fikar/dfikar - Fotolia
No. 5: San Antonio, Texas
1Q17 Home Price: $170,156 (+8.6%)
1Q17 Home Sales: 39,136 (+3.5%)
1Q17 Home Sales: 39,136 (+3.5%)
andreykr - stock.adobe.com
No. 4: Dallas, Texas
1Q17 Home Price: $225,385 (+9.2%)
1Q17 Home Sales: 77,256 (+3.6%)
1Q17 Home Sales: 77,256 (+3.6%)
Leena Robinson/leekris - Fotolia
No. 3: Fort Worth, Texas
1Q17 Home Price: $185,783 (+11.7%)
1Q17 Home Sales: 39,268 (+3.4%)
1Q17 Home Sales: 39,268 (+3.4%)
TONO BALAGUER/lunamarina - Fotolia
No. 2: Orlando, Fla.
1Q17 Home Price: $208,914 (+9.9%)
1Q17 Home Sales: 57,011 (5.7%)
1Q17 Home Sales: 57,011 (5.7%)
Joseph Sohm/spiritofamerica - Fotolia
No 1: Nashville, Tenn.
1Q17 Home Price: $237,525 (+11.9%)
1Q17 Home Sales: 34,891 (+7.4%)
1Q17 Home Sales: 34,891 (+7.4%)
