Analysis shows surge in “hot” housing markets over three-year span
November 27, 2017, WALTHAM, Mass. — This month’s Pro Teck Valuation Services Home Value Forecast analyzes market trends and historical data of the nation’s top housing markets to determine just how many metros have made the recovery from “weak” to “hot.”
The analysis, which takes data from the country’s top 200 CBSAs in October 2017 and compares it with conditions in October 2014, found that many of today’s housing markets are in great shape — and in some cases hitting new highs.
Here’s the full breakdown:
Looking deeper, the analysis found that today, 70% of the 200 CBSAs tracked by Home Value Forecast have a Market Condition Rating of “Strong” or “Hot.” In 2014, that figure was 22.5%.
Additionally, in 2014, 39% of the 200 CBSAs tracked by Home Value Forecast had a Market Condition Rating considered “Soft” or Weak.” Today, that number is down to 10.5%.
“Limited inventory and a backlog in construction has left a void in available housing stock, leading to a strong real estate market filled with competitive buyers, increased prices and many same-day sales,” said Tom O’Grady, CEO of Pro Teck Valuation Service.
Click here to read the entire forecast, including data and graphs that further highlight market trends discussed in this release.
About Home Value Forecast
Home Value Forecast (HVF) is brought to you by Pro Teck Valuation Services. HVF provides insight into the current and future state of the U.S. housing market and delivers 14 market snapshot graphs from the top 30 CBSAs.
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