A ranking of the top single-family housing markets for spring 2017 placed cities in the South, Midwest and West at the top of the list, with two of the top markets in Florida.
Ten-X’s “Top Single-Family Housing Markets Report for Spring” lists Tampa, Fla., Dallas, Columbus, Ohio, Las Vegas, and Jacksonville, Fla. as the top housing markets for spring 2017.
The ranking is based on demand, home price appreciation and economic and demographic growth. The rankings also weigh account pricing, sales, affordability and permit activity.
“This quarter’s housing report had a few surprises, showing how a market's housing outlook can ebb and flow depending on changes in some of the underlying fundamentals,” Ten-X Executive Vice President Rick Sharga said in a press release.
“For example, Columbus bucked the downward trend we’re seeing in many other Midwestern markets due to population and job growth, while cities that formerly ranked highly in our analysis, like Los Angeles and San Francisco, are beginning to show signs of weakness due to prices that have risen high enough to impact affordability.”
According to the report, Tampa had a 13.1 percent year-over-year home price growth and a 7.3 percent year-over-year increase in homes sales. Its neighbor to the north, Jacksonville, had an 11.9 percent jump in home prices and a 7.3 percent increase in sales.
Dallas had a 10.6 percent increase in home prices and a 2.9 percent increase in sales. Columbus, the lone Midwestern city in the top five, had a 9.6 percent increase in home prices and a 6.6 percent increase in home sales.
Las Vegas posted a 9.7 percent increase in home prices and an 11.4 percent increase in home sales.
Ten-X’s report listed Los Angeles, San Francisco, Long Island, N.Y., Central New Jersey and Northern New Jersey as the lowest-ranked markets for spring 2017.