We’ve decided to provide some important insight into a major benefactor to our nation’s economic health — the housing industry. This is thanks to a recently released study from realtor.com®, who looked into their crystal ball — or, economic data — to decide next year’s hottest housing markets.
To determine the best 2018 markets, their team of experts took a look at the number of sales of existing homes and their prices, along new home construction in the nation’s top 100 markets. They also analyzed the local economies of each area, along with population trends, unemployment rates, median household incomes, and other factors.
So what are the markets predicted to rule 2018? Hint: Nine of the top-ten markets happen to fall in or near a D.R. Horton community. Without further ado, here are the hottest housing markets.
Hottest Housing Markets: Nashville, TN
The music city is earning top accolades for production beyond country headliners. Holding the no. 9 position on the list, Nashville is rising the ranks for note-worthy gains in home pricing.
With a median home price at $358,501 experts predict the home pricing in Nashville and the surrounding communities jumped nearly 11 percent in 2017 alone. And, as the population continues to rise so does the predicted sales growth by 1 percent and 7.7 percent for price growth.
Last year’s list placed Nashville’s suburb of Franklin, situated nearly 21-miles outside of Nashville as the no. 4 hottest housing market. The community of nearly 73,000 showed a total average household income of $82,334 annually. And, with home prices more than $100,000 more than that of the state capital’s it’s easy to see why experts agree homes with ambitiously high price tags sit on the market longer.
D.R. Horton has eight communities in the Nashville market. These include Clarksville, Columbia Murfreesboro, Nolensville and Pleasant Valley.
Hottest Housing Markets: Colorado Springs, CO
Colorado Springs earned the number 8 spot for 2018 thanks to its appeal to those working in or near the state capital.
The city’s proximity to Denver, about 70 miles away, has also been a boom to this once sleepy little resort town. Today, nearly half-a-million residents call this city home, many of have traded in a daily commute for an affordable living option. Colorado Springs offers an attractive option thanks to an affordable median home price of $375,000, when compared to the Denver area of $511,200 — which is about 36 percent more, give or take.
Colorado is no stranger to the list of top markets. Last year, the outdoorsy city of Lone Tree made the list. Located about 30 minutes from the capital, this small city of less than 15,000 offers a much more feasible commute. However, this was the smallest city, with an average population of less than 15,000. And, thanks to an average median income of $166,761 this population makes up for in economic strides —with home prices averaging nearly half-a-million dollars.
With 28 communities and growing, Colorado is a hot market for D.R. Horton with homes from Fort Collins to Castle Rock, and other outliers of Northern Colorado.
Hottest Housing Markets: Charlotte, NC
Charlotte continues its popularity within the housing market thanks to top financial companies calling it home. Coming in at the no. 7 spot on the list, this has led to an overall predicted employment growth at about 2.5 percent. And, an overall surge of 2.2 percent in the state’s population.
Given these details, it’s no surprise its housing market is expected to see a continual sales growth of 6 percent. This is said to create an estimated 3 percent surge in its median home price of $325,045.
D.R. Horton offers a total of 47 communities in Charlotte and its outliers, many starting at a price lower than this median.
The current affordability of the city’s median home price range has attracted many retirees. In fact, of the nearly 50 D.R. Horton communities in the state, our brand of Freedom Homes, tailored to empty nesters, has gained popular traction in Charlotte.
Hottest Housing Markets: Salt Lake City, UT
Coming in at no. 6 on the list is the great Salt Lake City of Utah. And, this city is so hot many say home buyers are having to duke it out with competitors.
Thanks to a growing popularity after the 2002 Winter Olympics, buyers now offer 20 to 25 percent of the homes original asking price. Which still means for a fairly practical offering with a median home price of $360,828.
This is only expected to move up. With a predicted sales growth of 4.6 percent and an equally impressive price growth of 4.5 percent, these home prices won’t stay low for long.
D.R. Horton has 12 communities throughout the Salt Lake Valley and its suburban areas such as Saratoga Springs and Herriman.
Hottest Housing Markets: Lakeland, FL
Much like Colorado City, Lakeland holds the number five spot thanks to its desirable location. About 40 miles east of Tampa and an hour southwest of Orlando, this area is a desirable locale for those seeking locale at an affordable price.
Its median home price, one of the lowest on the list at $224,950, is expected to grow at a rate of 7 percent. This is on top of a sales growth prediction of 3 percent thanks to the city making substantial strides in growth. This city, like the majority of contenders on the list, was hit hard by the housing market crash of 2008.
Today, it has a downtown revival and new subdivisions going up outside of the city. Experts say these new amenities, along with lower prices, have been a draw for home buyers. In Lakeland’s city limits, the median home price is $180,000.
And, like Charlotte, the affordability is a perk for empty nesters, who are drawn to the single-family home communities. In fact, Freedom Homes, dedicated to the lifestyle of active-adults, makes up one of the five communities D.R. Horton offers in Lakeland.
Hottest Housing Markets: Stockton, Calif.
Thanks to its close proximity to the economic powerhouse of San Francisco’s valley, Stockton is on the up and up for the housing market.
Ranked no.4 on the list, the once crime-plagued city is becoming a place to be, especially for those commuting into San Francisco.
Offering an affordable median home price of $385,050, a nearly 2-hour commute is small potatoes when compared to the nearly $1.3 million median home price for those looking to live in the city.
In 2017, California’s southern city of Monterey Park was listed in the top five for hot housing markets. Nestled in the San Gabriel Valley just east of downtown Los Angeles, this cultural community is just 15 minutes from downtown Los Angeles.
D.R. Horton offers nearly 90 communities across California, including 11 in the Bay Area and 12 in and around Las Angeles.
Hottest Housing Markets: Deltona, FL
Deltona’s location landed it the no. 3 spot on the list thanks to its central, 30-minute location from both Orlando and Daytona Beach.
With a median home price of $275,050, the affordability is a draw for those looking to commute to either of these major cities. The median home price in Deltona’s city limits is $159,000 versus $269,000 in Orlando.
But, with popularity comes a competitive buyer’s market. With predicted sales growth at 5.5 percent, and an even higher price growth by 6 percent, many home builders are cashing in on the predicted economic growth. The metro’s economy is expected to increase by about 8.3 pecent, while employment is to increase by about 2.9 percent.
Florida constitutes one of D.R. Horton’s largest markets to date. Today, we offer more than 60 communities in the Central Florida market from Daytona Beach to Orlando.Hottest
Hottest Housing Markets: Dallas, TX
The Dallas market is booming as a steady flow of companies continue to relocate in the region.
For example, recently Toyota moved its North America headquarters to the Dallas suburb of Plano. This also meant 4,000 of its employees from other states. Or, busloads of new buyers competing for viable housing options.
Thanks to the expansive reach of land development in Dallas County, the median home price still remains at a relatively affordable median of $339,300. Buyers beware: the continued attraction of large corporations also means a predicted 6 percent sales growth with an equally enormous 5.6 percent price growth in the coming years.
Local real estate experts say new homes in the city of Dallas run anywhere between $700,000 and $2 million. In the suburbs, however, they’re a bit less and can range between $350,000 to $400,000 depending on new or used.
Last year, Dallas County’s neighboring Collin County made the no. 2 spot thanks to its suburb of Allen. This city is not in the least small with an overall population of 96,045, however its strong economy has allowed for a strong sense of community with most daily amenities within easy reach.
Like Plano, Allen has a viable 30-minute commute into Dallas’s downtown area. Combine that with the allure of excellent school districts and it’s no wonder Dallas and its surrounding suburbs continue to earn top accolades for its housing market.
Ask D.R. Horton about the value of this market, and many would say it’s our foundation. In 1978, the company held its first community ribbon cutting in Forth Worth. When combining Fort Worth and the Dallas market, there are nearly 80 communities in the metroplex.
Hottest Housing Markets: Las Vegas, NV
When it comes to the sin city, experts show the biggest sin is not cashing in on its prime real estate.
Las Vegas holds the number one spot on the 2018 list. This is thanks to a predicted future brighter than the lights cast on the strip.
The tourist-friendly city suffered from a wave of foreclosures as a devastating aftereffect of the late 2000’s financial crisis. But, this once down-on-its luck economy is now expected to grow by 8.7 percent in 2018. This is nearly tremendous gains when compared with 6.4 percent average for the other top 100 markets.
Likewise, this had a positive impact on home affordability with median pricing at $285,045. These well-priced homes in good neighborhoods have brought a substantial influx of new residents. Not to mention on top of the return of buyers who lost their homes to foreclosures. Put it all together, you get a predicted sales growth of 4.9 percent, and 6.9 percent predicted price growth.
Meaning, the stakes are high for buyers competing for a spot in this hot housing market.
D.R. Horton has nearly 30 communities in the Las Vegas area. The price of new homes starts way below the median price at $150,000, all with top-quality craftsmanship to fit the individual needs of every customer.