Top 10 Real Estate Markets to Watch in 2014
You'll be surprised by how many California markets made ZipRealty's list, but we suspect homebuyers are looking for more than just good weather.
Los Angeles and San Francisco ranking at the top of ZipRealty’s list of 10 Hottest Metros to Watch in 2014? We’d say it was “California dreaming on such a winter’s day,” except the prominent real estate website and brokerage combined data from more than an entire year’s time.
"We analyzed home search activity on our site over the past year to find out where people are most interested in buying homes," said ZipRealty CEO Lanny Baker. "Los Angeles, the San Francisco Bay Area and Boston have the most Saved Home searches on our website.”
So Boston slips into the list at number three. So much for these searches being weather related. Baker points out that the top three metros “were among the healthiest in 2013, outperforming the nation in year-over-year median home price growth and shortest days on market, based on a year's worth of data collected in our Housing Trends Reports.”
Chicago, another chilly city, was number four. "Demand for Chicago homes has also started to increase over the past few months with stable growth in pricing, a 25 percent decline in inventory year-over-year and a 31 percent decline in median days on market as of the end of November 2013," noted Baker.
It's interesting to note that most of the areas in ZipRealty's Top 10 list have also experienced a job resurgence, particularly in the high-paying tech industry.
So is your metro area on ZipRealty’s Top 10 Metros to Watch in 2014 list? Check our photo gallery to find out. But we’ll tell you right now your chances are best if you live in the Golden State: Forty percent of the finishers are located in California.