America’s Hottest Housing Markets And How You Can Crack Them

Right now, it’s a sellers’ market, but it’s important to remember that a dip may soon be on its way.

By Annette Barlow December 14, 2016

As the global economy careens drunkenly from one self-induced crisis to another, pointing belligerently with one hand while shoveling kebab meat into its mouth with the other, one thing remains steadfast—the US housing market.

According to a report by real estate data company ATTOM Data Solutions, the US median home sale price reached an all-time high in June 2016—one percent above its previous peak of $228,000 in 2005—just before the housing crisis ravaged the country. Single family homes and condos sold for a median price of $231,000 in June, up six percent from the previous month, and a hefty nine percent from the previous year.

RelatedFacebook Will Give $20 Million To Tackle Affordable Housing Crisis In Silicon Valley

In fact, 30 percent of local metro markets reached an all-time price peak in June, the 52nd consecutive month that the US median home price increased on a year-on-year basis.

You might expect real estate giants like New York and San Francisco to dominate market growth, but in actuality, Seattle, Dallas, Minneapolis and Atlanta all came out strongest, their respective home prices peaking at $385,00, $240,156, $235,950 and $192,000.

The West Coast did manage to top the board, however, with the highest percentage gain on real estate transactions. Those wishing to sell a home in San Francisco in June 2016 would be looking to cash in big time. The average US median home sold for $41,000 more than when homebuyers purchased the property, amounting to a respectable 22 percent.

RelatedA West Village Condo Complex Aims To Add Some Sanity To NYC’s Real Estate Bling

Not only have house prices been gaining year-on-year, but they’re projected to keep rising. With the political horizon teetering on the brink, what kind of economic alchemy could possibly keep the US housing market not only afloat, but raging through the waters like a jet-ski on a sunny day?

Well, Americans, it would seem, have an unfailing faith in the real estate market. Add to that, nationwide job growth soaring in 2016, local economies’ continued buoyancy and the three-year-low mortgage rates and you have the recipe for a buxom real estate market.

Sounds like a dream scenario, right? Well, only if you already own a home, or have plenty of ready cash to buy one. Areas close to major employment centers (see San Francisco) are witnessing a high demand for affordable housing. Sure, such areas provide great returns on existing investments, but the dwindling inventory and higher prices mean that first-time buyers are rapidly being priced out of the market—the very same people being employed in these areas.

Likewise, 12 percent of areas actually saw a decline in median housing value, with Bridgeport, CT dropping by six percent and Allentown, PA by four percent.

Right now, it’s a sellers’ market, but as buyers fight tooth and nail over the scant houses up for sale, it’s important to remember that a dip may soon be on its way. Once mortgage rates rise and prices reach respective local ceilings, a fall is likely—and we’ll be there, just waiting for that elusive post-bubble deal.

Annette Barlow



Annette is freelance editor, sub-editor, journalist and proofreader with a fierce love of all things feminist, food and music. She is a regular fixture on the arts, culture and feature desks at The Guardian, and her words have appeared on NME, Great British Chefs, The Fly, The Line of Best Fit and Australian Times.

    Stefano Boeri, the architect mastermind behind the famous plant-covered skyscrapers, is now designing Forest Cities in Liuzhou, China. #ForestCity #China
    Auction is the second scheduled in a month for a One57 unit and it could set a NYC foreclosure record. #BillionairesRow #Foreclosures
    Once a couch-surfing website, Airbnb moves on to luxury properties, further disrupting hospitality industry. #Airbnb #Luxury
Four Countries To Retire In With $200K In Savings—And How Much Real Estate Costs There
Ever dreamed of retiring abroad? You know, affordable healthcare, better climate, more positive news—becoming an expat seems like an enticing option, especially one you no…
While Other Real Estate Platforms Start Charging Agents $3-Per-Day Exposure Fee, Agorafy Remains Accessible To All
Real Estate searching platform are always finding news ways to diversify their revenues models. Case in point—on Tuesday July 18, Streeteasy, one of New York…
Is Real Estate Crowdfunding The Fix That Urban Housing In America Really Needs?
Saving money for a down payment? One can only hope. Most millennial in their twenties or thirties are mortified that they might never be able…
Brooklyn And Queens’ Real Estate Sub-Markets Continue Their Ascent To The New Heights
So, the sales prices in Brooklyn and Queens hit record highs. Again. Just like they did in December 2016 and at the end of this…
The Economy Of Car Services And Delivery Apps Might Be Making NYC Less Eco-Friendly
Living in an eco-friendly neighborhood is a good thing. And, as it always the case with the good things, it also costs more. High rents…
Building Communities: What The U.S. Developers Should Learn From Soho China
As our world emerges into the new period of globalization and technology, some of the most important by-products of this process are buildings that have…
Five Reasons Why All Entrepreneurs Must Keep Their Eyes On China
It is hard to overestimate the importance of Chinese influence on the modern global economy. Carving out a place in Chinese market and winning over…
Airbnb Up Their Game With A New Luxury Tier Featuring Mansions And Villas
Airbnb is about to seriously up their game. First, the company started testing a new service called Select in an attempt to push accommodation listings…