Worlds Hottest Areas 2019

It’s no secret the housing industry in the usa continues to be warming up in the last few years, with many markets up by double-digit percentages in the past year alone. Most industry experts are projecting increases to continue in 2019, but in a slower pace compared to the past few years.

According to Zillow, the average home value within the U.S. is projected to rise by an additional 4.6% over the next year, but there are some markets where double-digit gains are required to carry on. Here is a breakdown of a few of the markets that are expected to be 2019’s hottest.

Vallejo, Calif. — 23.9%

This city of about 116,000 people is part of the San fran. Vallejo has had a lot more than its share of monetary troubles in the past, having declared Chapter 9 bankruptcy in the wake from the financial crisis in 2008. The city’s unemployment rate has dropped from 15% to 10.1% since emerging from bankruptcy this year, that is certainly enhancing the improvement in home values.

Stockton, Calif. — 22.7%

This town of 300,000 people is the second-hottest housing market in the united states for 2019. Stockton was one of the hardest-hit markets in the united states through the collapse from the sub-prime lending market in 2007, and it had the greatest foreclosure rate in america. In 2007, one of every 30 homes within the city entered foreclosure.

The median price of a Stockton house fell by 44% in 2007, by an additional 39% in 2008. Stockton residents should be able to breathe a little easier after 2019, but they are still quite a distance from even.

Yuba City, Calif. — Projected gains of 20.3% in 2019

This Northern California city is within Sutter County and it has a population of just fewer than 65,000. Yuba City is home to Sunsweet Growers, the largest dried-fruit processing plant on the planet, which has earned the city the nickname of “prune capital of the world.”

One possible reason for the drastic climb in housing prices is the rapidly improving employment situation in the region. Yuba City has a higher unemployment rate than the national average, however it has improved from 16.4% to 13.9% over the past two years. When more and more people are employed, they’ve got more money to buy a house. Is sensible.