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2016 Booming Housing Markets

Courtesy of Real Estate Ink, a full-service Brevard County real estate boutique brokerage, below is a list of housing markets from around the United States that are expected to have explosive years in 2016.

  • Providence: The capital of Rhode Island has recently exploded thanks to its proximity to Boston. The cities are closely connected, and Boston keeps on displaying economic growth, so many looking for a house consider Providence a more affordable place than Boston to live. Compared to 2015, home prices and sales in Providence are expected to increase 10% in 2016.
  • St. Louis: Home prices here are predicted to increase by 10% in 2016. In 2015, inventory diminished and demand increased, which applies pressure to prices. Sales of homes are expected to jump 9% in 2016 due to median wage growth and strong employment rates.
  • San Diego: This city’s housing market was on fire in 2015, and real estate experts predict the trend will continue this year. Home prices are forecast to rise nearly 10% in 2016. Inventory here moves quickly, the climate and scenery is beautiful, and new construction has been strong.
  • Sacramento: California’s capital has a good economy right now, what with higher household incomes, household growth above average, and a lower unemployment rate. Prices for homes in the area are expected to rise more than 10% this year, along with a 7% rise in sales.
  • Atlanta: The housing market here in 2015 turned itself around, transitioning from a buyer’s market to a seller’s market, and experts predict that 2016 will also be a good year for the city’s real estate industry. Median home prices may increase 9.6%.
  • New Orleans: Sales are expected to rise at least 10% this year, in part thanks to quickly moving inventory.
  • Memphis: This city’s housing recovery has recently exploded, and significant growth is expected to continue in 2016.
  • Charlotte: Good news for this city’s housing market: the labor market here is improving. The business service sector of the labor market (including technology and software jobs) is growing, and the financial industry is also solid here.
  • Virginia Beach: The housing market here is expected to do well this year thanks to the threat of defense cuts reduced. There is a heavy military presence in the Virginia Beach-Norfolk-Newport News market, and the area can be affected by budget fights.
  • Boston: Buyers beware: homes in this large city sell quickly, and the trend isn’t expected to slow anytime soon. Home prices in this area are forecast to increase 6% this year.

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