West Coast Dominates Best Real Estate Markets for 2014
MoneyJournal.com, the financial news website that annually issues forecasts for the best markets in America, recently released its best real estate markets for 2014 forecast for the New Year. According to the forecast, “Rising mortgage rates, technology and changes in the U.S. economy pose major obstacles for most cities markets, but the best 20 markets are the strongest in the nation. Some of the hardest hit cities in the real estate crash have experienced the largest recoveries in home values, including Las Vegas, Los Angeles and Miami. Technology, however, is driving rampant recoveries in San Jose, California the home of Silicon Valley and other smaller tech hubs.”
Further, according to a recent article on AOL Real Estate, Zillow Market Health Index reported that the nation’s healthiest housing markets in October were clustered in California and the rest of the West. “Zillow’s Market Health Index, calculated on a scale from 0 to 10, is a new measure designed to illustrate the current health of a region’s housing market relative to similar markets nationwide. Because no one number can accurately convey every dynamic in a given area, the Market Health Index incorporates 10 separate measures of housing market health.”
Here are the top 10 best real estate markets for 2014, among large metros:
[list type=”arrow”]
[list_item]San Jose, California[/list_item]
[list_item]San Francisco, California[/list_item]
[list_item]Los Angeles, California[/list_item]
[list_item]San Diego, California[/list_item]
[list_item]Denver, Colorado[/list_item]
[list_item]Boston, Massachusetts[/list_item]
[list_item]Pittsburgh, Pennsylvania[/list_item]
[list_item]Portland, Oregon[/list_item]
[list_item]New York, New York[/list_item]
[list_item]Sacramento, California[/list_item]
[/list]
While statistics prove useful, they cannot be relied upon alone. The housing market is very complex. As each the real estate industry continues to recover, expect more changes to come.
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