Ten-X, and online real estate marketplace, released its ranking of the top single-family housing markets for this spring among the nation's 50 largest housing markets. The hottest markets, which are determined by current and forecast housing fundamentals, are characterized by consistently rising home prices, home appreciation, and favorable affordability and economic conditions.
The top five markets highlighted by the report were Seattle, Portland, Ore., Nashville, Tenn., Palm Beach County, Fla., and Fort Lauderdale, Fla., with Seattle taking the top spot for the third year in a row and Portland following in the number two spot for the second time.
Both Seattle and Portland represent the dominance of the Pacific Northwest driven largely by the technology sector, as local economic strength and healthy demographic trends continue to support burgeoning housing markets in their recent climb past prior peaks. On the opposite coast, Palm Beach County and Fort Lauderdale embody the ongoing recovery effort seen in many Florida markets, leaving ample opportunity for future growth as housing fundamentals remain below pre-recession levels. After experiencing its own recessionary downturn-albeit on a smaller scale-Nashville is seeing local home prices explode due to economic expansion and rising population growth.
See the full ranking of 50 markets at Kusi News.