If you are considering moving into a new home in the near future, you may be having reservations about buying and rightly so. Over the past couple of years, the housing market has taken a dip and it isn’t really as good investment as it once was. But, there is good news on the horizon.
Here’s a look at some of the markets that have the best outlook for the next year. Keep these in mind as you consider relocation.
San Jose-Sunnyvale, California
The recent job growth in Silicon Valley has helped out the housing market. In fact, home prices in this area of California have appreciated by 2% in the last year. Experts project another 4% and higher in the next year.
Over the last 10 years, the market has been declining steadily. However, the city has experienced an increase in relocations, which is partially due to job growth in the area. Like San Jose, home prices have appreciated by 2% and are due to increase even more.
Despite the mild recession in government-related jobs in the area, home prices are going up – a good sign for the market. Job growth is on the rise, so more people are moving to the area and home prices are increasing by 2%-4%.
Oklahoma City, Oklahoma
This area experienced a sharp recession, but job growth is once again on the mend. Because of this the population has grown and people are relocating to Oklahoma City rather than aware from it. Home prices already bottomed out and are currently remaining flat, but experts are projecting a 4% increase in the next year.