This is the year to invest in the Raleigh housing market, according to “Zillow’s Hottest Housing Markets for 2018.”
Raleigh holds the No. 2 spot in Zillow’s annual prediction, based on its rising home values and rental prices, steady income growth, abundant job opportunities and low unemployment rate.
Charlotte ranked No. 4.
Zillow reported that Raleigh’s income grew by 9 percent last year and predicted its median home value in 2018 would be $233,900. The unemployment rate is 3.6 percent.
The list, made up of mostly tech cities, ranks San Jose in the top spot for its high number of job openings per person and increasing home value, Zillow said.
Zillow’s Hottest Housing Markets for 2018
1. San Jose, Calif.
5. San Francisco
6. Austin, Texas
8. Nashville, Tenn.
9. Portland, Ore.
“The tech industry continues to roar, attracting thousands of new residents per year to tech-dominant markets like Seattle, Denver and the Bay Area,” Terrazas said. “The higher cost of living in these areas is offset to a large degree by well-paying tech jobs.”
Zillow is a national database for real estate and rental properties.