The Houston and Dallas metro areas are expected to show the strongest home price appreciation over the next year in the most recent update to the U.S. real estate market forecast from Veros Real Estate Solutions.
“California markets are less robust than in previous quarterly updates, but remain steady, with Riverside/San Bernardino remaining in the top ten due to affordability and seasonal trends,” said Eric Fox, Veros' vice president of statistical and economic modeling.
The Houston metro area improved over the previous quarter, with low unemployment in the region being a contributing factor. Dallas metro and Amarillo both moved up in the standings from the previous update, owing to improved affordability.
The central Great Plains continue to be steady, with especially good forecasts for Louisiana, Missouri, Iowa, Arkansas, Oklahoma, Nebraska and South Dakota.
“Anchorage is showing modest gains, as are the Central Plains, with a rise in the Davenport, Moline, Rock Island areas of Illinois and Iowa,” Fox said.
Meanwhile, the VeroFORECAST shows Florida home markets continue to struggle as the state placed four metro areas in the rankings of the five projected weakest markets led by Port St. Lucie and Fort Pierce. The company said there are more Florida communities on the weakest market list this time but they appear to be depreciating at a reduced rate. The Daytona area was at -8.3% last quarter and this forecast shows an improved change to -6.0%.
