Chief economist Jonathan Smoke cited growing populations and jobs markets as the key drivers for growth and consumer confidence in these westner metro areas bellow saying that “a number of western markets not just on the coast, but farther inland, will continue to grow in value thanks to strong growth dynamics”.
- Los Angeles-Long Beach, California
- Riverside-Ontario-San Bernardino, California
- Phoenix, Arizona
- Tucson, Arizona
- Portland, Oregon
- Hillsboro-Vancouver, Washington/Canada
According to Mr. Smoke, although there is some issue with inventory in some of these markets, there is enough new construction to “ease the supply shortage somewhat” but continue to drive prices skyward.
He added that he expects these markets to continue to appreciate at above-average rates. Price-growth rates are slowing nationwide, however, with number-one-ranked Phoenix predicted to appreciate just under six percent while sales volumes rise just over seven percent.
It is interesting to mention that Smoke also believes that “millennials” will be a buying force only in some of these markets, specifically in Los Angeles, while Baby Boomers are likely to drive demand in Phoenix, Tucson, and Portland.
Specially for 2017 and ahead, its a trend that buyers these days may have a priority that beats even the time-honored standard, “location, location, location”, and turns out, if you they can’t breathe in this “location”, they are probably not going to buy. In other words, the key to success in real estate these days lies in the ability of only identify good locations in which to buy and sell.
A Meritage Homes survey revealed that as early as 2009 homeowners were expressing concerns about how their homes might impact their health, specifically in terms of indoor air quality. This is not surprise, if we consider that nearly 18 million adults (and more than six million children) have diagnosed asthma-related health issues.
* If you need a friendly realtor in L.A or O.C counties with over 15 years experience we recommend our Real Estate consultant Vladimir Bellemo to assist you with your questions and doubts. He speak English, Portuguese and Spanish – www.bellemo.com – (714)932-5335