الأربعاء, 06 تشرين2/نوفمبر 2024 05:01

Target Cities for Real Estate Growth

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Several Western and Midwestern cities, including Boise, Idaho, and Stockton, California, are projected to join the "million-dollar club" in median home prices over the next decade. 

 

Realtor.com's forecast estimates Boise’s median price will rise from about $464,000 to $1.2 million by 2033, following a strong growth trend seen in previous years. Other cities expected to cross the million-dollar mark include Salt Lake City, Portland, and Colorado Springs. Stockton’s proximity to costly Bay Area markets is driving its prices, with an anticipated median of $1.4 million by 2033. 

 

Denver and Sacramento are also projected for substantial gains, reaching approximately $1.3 million and $1.1 million, respectively. These forecasts hinge on continued demand and limited supply, but a surge in new construction could temper these projected gains.


Finsum: One key aspect of this to watch is how fast wages are growing in these cities as this is a strong indicator of future home price growth

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