Phoenix is slated to be one of the 5 hottest home markets in 2021, according to a recent report by Zillow.
The survey, which was sponsored by Zillow and conducted quarterly by Pulsenomics LLC, asked a large panel of economists, investment strategists and real estate experts at the end of 2020 for their predictions about the U.S. housing market as well as their expectations for 2021 home value growth across the country.
The report found the top five cities poised for growth are:
- Austin, TX
- Phoenix, AZ
- Nashville, TN
- Tampa, FL
- Denver, CO
With Austin, Texas leading the pack with a 84% home value value growth projected to out-perform the national average, Phoenix came in second place at 69%, followed by Nashville (67%), Tampa (60%) and Denver (56%).
Reasons include record-low mortgage rates, increased demand for more living space, economic growth and sunny weather.
View the full report here.