March 30, 2020, WALTHAM, Mass. —
The March Top 10 Hottest Housing Markets have moved eastward, excluding many perennial powerhouse metros and their expensive housing markets. This diversion from the norm has given us an opportunity to explain the method behind Home Value Forecast and how we use data and market trends to forecast future growth.
Using actual rolling data over the past eight quarters, all trends are defined as increasing, stable or decreasing, and each gets a score based on whether the trend is positive, negative or neutral. A composite score for each CBSA is calculated by summarizing the directional scores of each of its indicators, and is meant to identify those metros that have the highest probability of price appreciation over the next 6 to 24 months.
Using this methodology, the March Top 10 has three CBSAs from the state of Maryland. While not traditionally considered a booming housing market, Maryland is benefiting from high job growth and steady home prices.
“Baltimore has added almost 200,000 jobs in the last 10 years, and household incomes are up nearly 35% – a perfect recipe for a healthy housing market,” said Tom O’Grady, CEO of Pro Teck Valuation Intelligence. “Telecommuting has made living in affordable areas easy for Baltimore area residents, which should translate to sustained growth.”
Click here to read the entire report, 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 Intelligence. 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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