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In October, we wrote about a study by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI), which predicted the hottest real estate markets of 2016—the study’s focal assertion was that the New Year would be the time of secondary and tertiary markets. Yesterday, realtor.com released their 2016 Housing Forecast providing an overview of the coming housing market and a list of the top 10 cities for home buying activity.
Based on analysis of economic and housing data, and previous trends, realtor.com chief economist Jonathan Smoke compiled the list, which differs interestingly from PwC and ULI predictions. Established hotbeds of real estate activity in the past are absent from this year’s list so the question must be asked, why is there a lack of consensus concerning emerging markets? At any rate, the potential the various cities on multiple top 10 lists exhibit is nothing but a good thing, right?
Here are the top 10 housing markets of 2016, according to realtor.com:
- Providence, RI
- Louis, MO
- San Diego, CA
- Sacramento, CA
- Atlanta, GA
- New Orleans, LA
- Memphis, TN
- Charlotte, NC
- Virginia Beach, VA
- Boston, MA
The realtor.com and PwC-ULI lists share only two cities: Charlotte and Atlanta. It will be interesting to see which list proves more accurate next year. As the economy changes and different generations grow, home buying activity has to increase and in several places. Maybe it will come to you. Smoke also predicts that three particular groups will spearhead homebuyer movement: older millennials ages 25-34, younger generation X’ers ages 35-44 and retirees ages 65-74.