Denver Predicted To Be In Top 5 Hottest Housing Markets In 2021
DENVER (CBS4) -- Zillow has released a new report predicting the hottest housing markets in the U.S. in 2021 -- and Denver came in fifth.
Sunny and relatively affordable metropolitan areas topped the list, and home values in those areas are expected to grow faster than the national rate by the largest margins. In a shift from recent years, expensive coastal metros such as New York, San Francisco and Los Angeles are expected to fare the worst against the national average.
Real estate experts say they expect home values in Denver to continue to grow faster than the national average for the foreseeable future.
"With inventory at near record low-levels, coupled with historically low interest rates, we don't expect price growth to lessen anytime soon," Michael Hills, Vice President of Brokerage, Atlas Real Estate, stated. "Because Colorado remains a desirable location and our population continues to rise, this also contributes to real estate price growth and inventory shortage."
"Buyers need to be prepared and move fast," Hills stated. "Talk to a lender first, know what you want and strike quickly when you find a home you like. If you're selling, don't be surprised if your house goes under contract fast while the market is on fire. Be sure to have a plan for your next home before you list."
According to Zillow, the hottest housing markets in 2021 are predicted to be:
- Austin, Texas
- Phoenix, Arizona
- Nashville, Tennessee
- Tampa, Florida
- Denver, Colorado