Top Real Estate Markets for 2017: The West

 

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If you’re offered a seat on a rocket ship, don’t ask what seat! Just get on. –Sheryl Sandberg

 

By Cicely Wedgeworth | Dec 1, 2016

We’ve predicted a slight slowdown for the U.S. real estate market next year, but the realtor.com® economic team is forecasting that most of the nation’s hottest markets are going to keep blazing in 2017. And where will it be hottest? Head west! According to our forecasts, the western U.S. will continue to lead the nation in prices and sales.

“The top 10 markets all benefit from strong growth dynamics: population, jobs, and households,” says Jonathan Smoke, realtor.com’s chief economist, who analyzed the country’s 100 largest metropolitan markets for their growth potential. “They all have low unemployment that’s heading lower, which buoys consumer confidence.”

Western cities account for 11 of the top 25 metro markets on our list, including five in California. But whatever their location, all the top markets have in common relatively affordable rental prices, low unemployment, large populations of millennials and baby boomers, as well as a high number of listing views on realtor.com. The top 10 are forecast to see average price gains of 5.8% and sales growth of 6.3%, exceeding next year’s anticipated national growth of 3.9% and 1.9%, respectively.

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And while the limited availability of homes for sale continues to be a problem for home buyers but a boon to homeowners, these markets are seeing growth in new construction that eases the supply shortage somewhat. Still, there isn’t enough new construction to keep up with the growth, Smoke says—and so prices continue to rise at above-average rates.

However, compared with last year, price growth in eight of the top 10 markets is expected to slow down, with only Los Angeles and Tucson, AZ, showing bigger increases over last year.

For all their commonalities, the top 10 metro markets have different buying patterns and price levels, Smoke notes. Millennials are more of a buying force in Boston and Los Angeles, while retiring boomers make their presence felt in Phoenix; Jacksonville and Orlando, FL; Raleigh, NC; Tucson; and Portland, OR. Veterans, meanwhile, come out in force in Jacksonville and Tucson.

See metrics for the top 20 markets below, and for the full list of 100 markets, check out the realtor.com 2017 housing forecast.

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Cicely Wedgeworth is the deputy managing editor of realtor.com. She has worked as a writer and editor at Yahoo, the Los Angeles Times, and Newsday.

SEE IT ALL:

http://www.realtor.com/news/trends/top-real-estate-markets-2017/?cid=soc_shares_article_fb

FROM ME:

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Are you ready to sell or purchase your Commercial Building in Phoenix  –  Maricopa County  / Office  / Retail  / Industrial  / Multi-family /  please call me.

http://walter-unger.com/are-you-ready-to-sell-your-commercial-building-in-phoenix-maricopa-county-office-retail-industrial-multi-family-please-call-me/

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I am actively looking to build relationships with Real Estate Investors and Owner Users  for  multi-family, office, retail, industrial and land in Phoenix- Scottsdale-Tucson-Arizona.

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Phoenix projected as number one US housing market for 2017

http://walter-unger.com/phoenix-projected-as-number-one-us-housing-market-for-2017/

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Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

http://walter-unger.com/why-phoenix-2/

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Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land in Phoenix / Tucson / Arizona.  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties.

I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international.  Click here to find out what is a CCIM:  https://en.wikipedia.org/wiki/CCIM

 

 

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Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix

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Interactive  Metro Phoenix Map of New Apartment Construction by Completion Status

http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2

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Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

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Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

http://walter-unger.com/why-phoenix-2/

 

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Timeline of Phoenix, Arizona history

 

http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

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Phoenix, Arizona

 

http://en.wikipedia.org/wiki/Phoenix,_Arizona

 

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Facts of Arizona – year 1848 to 2013

http://walter-unger.com/?p=9507

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

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  1. Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix

http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974

 

  1. Interactive  Metro Phoenix Map of New Apartment Construction by Completion Status

http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2

 

 

Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages.  The interactive map  shows the location of each community (10+ units) and each location is color coded by the size (number of total units). 

Click here for Map of Apartments for Sale (10+units)

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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

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Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

 

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Walter Unger CCIM

Senior Associate Broker 

Kasten Long Commercial Group

2821 E. Camelback Rd. Suite 600

Phoenix , AZ 85016

Direct:    520-975-5207   

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