Markets with Most Appreciation
Below are the markets with the most value appreciation over the last 12 months. Data is sourced from Zillow and covers the "metro area" for each market.
Some Observations:
-Boise is in another stratosphere. It's metro average home price of $370k is now higher than markets like Austin and Phoenix.
-San Jose and Seattle are top performers even though their respective rental markets have taken a large hit. Is this sustainable?
-Phoenix and Tucson are experiencing accelerating growth. Arizona definitely has a history of boom/bust. However, the state-wide economy has matured a lot in the last 15 years.
-Provo and Ogden are the metros directly South/North of Salt Lake. That whole area is seeing massive growth, buoyed by inward migration and its very young and growing population.
-The last four are interesting. New Haven, Dayton, Milwaukee, and Worcester. All "rusty" type cities that have struggled to grow over the last decade. Yet they're tops in real estate growth in 2020.
What is everyone's thoughts? Are you invested in these markets? I would love to hear on the ground feedback.