Southern Housing Markets Could Be Booming In 2020
Mortgage professionals looking for a change in scenery may want to think about moving South, as a recent report from Zillow revealed it could be one of the hottest housing markets in 2020.
"New data from Zillow suggests that southern markets are expected to outperform other national markets this year," according to HousingWire.
The data specifically mentions Austin, Texas as a standout market. The claim is supported by 83% of Zillow respondents saying they believe Austin will be a frontrunner in market performance for 2020.
"Having subjected buyers to a crucible of fierce competition for multiple years, many West Coast markets hit an affordability ceiling that set off declining home values in the most expensive of these," said Skylar Olsen, Zillow’s director of economic research, according to HW.
"Indeed, this price correction – a clap back from having appreciated with too much exuberance in the recent past – pushes many previously hot markets to the bottom of our experts’ list."
Other markets in the South that are forecasted to standout include Charlotte, Atlanta and Nashville.
To learn more about the predicted boom in Southern housing markets, click on the image above.