Money magazine recently released their list of the hottest real estate markets for the next five years. Which areas made the list? Besides obvious choices of New York, Los Angeles and Washington D.C, the Tampa-St. Petersburg area was also listed as a booming real estate market.
In fact, Money magazine said Tampa-St. Petersburg has the strongest forecast compared to all other markets on the list. This was based off of the fact that the area’s economy is strong, and home prices are still substantially lower in value compared to the rest of the country.
Money magazine predicts in Tampa-St. Petersburg, there will be a 8.7% increase in home prices in 2016, and a 3% increase in 2017. According to this forecast, the market will remain strong and on the rise through 2020.