Login
There is yet another list predicting the busiest housing markets of the coming year, this time from Trulia in the form of their 2016 Housing Market Outlook. As most predictive reports, Trulia’s identifies a mixture of positive and negative trends in the coming year. In regards to their top 10 growing markets, the Trulia report doesn’t coincide with realtor.com’s 2016 Housing Forecast on any cities, and shares only Austin, Texas with PricewaterhouseCoopers (PwC) and the Urban Land Institute’s (ULI) Emerging Trends in Real Estate 2016.
Trulia Top Ten
- Grand Rapids, MI
- Charleston, SC
- Austin, TX
- Baton Rouge, LA
- San Antonio, TX
- Colorado Springs, CO
- Columbia, SC
- Riverside, CA
- Las Vegas, NV
- Tacoma, WA
The list was compiled according to home affordability, projected job growth and number of potential homebuyers. The report also shed light on the following:
- The amount of all Americans adults who identify homeownership as a personal goal is up to 75 percent (a one percent increase from last year); among millennials, this sentiment has increased to 80 percent from 78 in 2014
- 22 percent of Americans believe it will be more difficult to obtain a mortgage in 2016 than it was in 2015
- 31 percent of surveyed millennials report plans to buy a home within two years
Further 2016 Market Predictions
- Expensive housing markets in the West and Northeast will see a downturn in activity, while Southern and Midwestern markets build momentum
- Rent is touted to decrease is pricey metros as construction of multifamily units increases
- Buying will predominantly remain a better financial decision than renting, except in numerous California markets
The 2016 Housing Market Outlook supports predictions made by previous housing reports this year. While these studies often differ in regards to future budding markets, they agree on one thing: owning a home remains an increasingly difficult achievement for hopeful Americans.