Zillow Names Nashville Hottest Housing Market in 2017
Nashville, Tenn., tops the list of the hottest housing markets in the country for 2017, according to Zillow.
Zillow created the list by ranking cities based on rising home values, low unemployment rates and high income growth. Nashville came out ahead of other cities largely thanks to its growing health care sector, which pushed project income growth to 1.1% and the predicted unemployment rate down to 4%.
Beyond Nashville, many of the usual suspects from the Western part of the U.S. made the list, including Seattle, which came in second. Other Western metropolitan areas to make the top 10 include Utah's Provo, Ogden and Salt Lake City, Portland, Ore., Sacramento, Calif., and Denver.
Also on the list were Knoxville, Tenn., and Orlando, Fla.
"Zillow's 2017 list highlights that jobs and opportunities are increasingly growing in smaller markets away from the coasts," Zillow Chief Economist Svenja Gudell said in a news release.
"Midsize cities like Salt Lake City, Portland and Nashville are desirable places to live, with good employment opportunities and steady economic growth. The growth and demand for housing will drive up home prices in 2017, and these hot markets are experiencing change as more people discover them."