With continued corporate expansion and job growth, Dallas made Zillow’s list of the nation’s 10 hottest housing markets for 2018.
California, North Carolina and Texas each have two cities in Zillow’s top 10, which is based on a mix of six variables:
Its own home value and rent index forecasts for the yearIncome growth estimatesPopulation growthUnemployment ratesJob openings per person
Dallas ranked 10th, with the most job openings among the cities on the list. Austin, Texas’ other ranking city, took sixth in the study.
San Jose, California, took the top spot, boasting a median home value of $1.1 million — more than double every other city but San Francisco in the top 10. The study also projects an 8.9 percent increase during 2018, which is double every top 10 city but Dallas. Home values in Big D are expected to grow by 4.7 percent this year, according to Zillow.
Here’s a closer look at how Dallas scored:
Household income: $63,812Home value forecast: 4.7 percentGlassdoor job openings: 142,084
On the other end of the spectrum, "housing markets that will continue to face challenges in 2018 include former industrial giants Cleveland; Buffalo, New York; and Milwaukee," Zillow said, noting that "the population of all three metros is falling, and unemployment in Cleveland is 6.2 percent, well above the historically low national rate of 4.1 percent."
Largest North Texas Residential Real Estate Brokerages
Ranked by Transactions Closed in 2016
Rank Business Transactions Closed in 2016 1 Keller Williams Realty 25,301 2 Ebby Halliday Real Estate Inc. 19,719 3 Coldwell Banker Residential Brokerage, Dallas/Fort Worth 7,652 View This List