A recent article from Realtor.com Chief Economist Jonathon Smoke announced Virginia Beach, Virginia as one of the hottest real estate markets in 2016. His information is based on a strong local economy and that the area is lagging from other similar markets nationally. Smoke noted that realtor.com’s top 10 hottest housing markets for 2016 contained other surprises, in addition to top-ranked Providence: St. Louis; New Orleans and Virginia Beach, Virginia.
While all the areas on the list have strong economies or improving prospects, those four areas are about four years behind other markets in the recovery, and their economic outlook for 2016 is particularly strong, Smoke said.
Realtor.com hottest markets for 2016:
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Providence, R.I., and Warwick, Mass.
St. Louis
San Diego-Carlsbad
Sacramento-Roseville-Arden-Arcade, Calif.
Atlanta-Sandy Springs-Roswell
New Orleans-Metairie
Memphis, Tenn.
Charlotte-Concord-Gastonia, N.C.
Virginia Beach-Norfolk-Newport News, Va.
Boston-Cambridge-Newton