Veros Real Estate Solutions predicts some of the nation's most dramatic jumps in housing prices over the next year will occur in Northern California. In a recent report, Veros' property valuation experts named the five American metro areas in which they expect to see the greatest appreciation in single-family home prices. The San Jose area market topped the list with a predicted growth of 9.7 percent. The San Francisco region was fifth in the nation with an expected appreciation of 8.8 percent.
The national real estate market report, known as VeroFORECAST, is updated quarterly. Nationally, the group is predicting a 3.4 percent increase in single-family home prices, down from last quarter's 5.1 percent projection.
"The wave of appreciation may have crested, but it has been an impressive recovery in many respects," says Eric Fox, Veros Vice President of Statistical and Economic Modeling. "The market is stabilizing and the overall outlook is very positive."
The outlook is particularly rosy in the Golden State. While two Northern California markets made it onto the list of Projected Five Strongest Markets, not a single California metro area showed up on the list of Projected Five Weakest Markets. (Atlantic City, N.J., Norwich-New London, Conn., Fayetteville, N.C., Rockford, Ill., and Winston-Salem, N.C., comprise that list.)
But while the anticipated growth in San Jose and San Francisco housing prices is good news for sellers, it could make single-family homes unaffordable for many buyers. The Sacramento housing market provides the best of both worlds — affordably priced Northern California investment properties that are poised to appreciate in value. If you're looking for homes for sale in Sacramento, contact top real estate agent Jon Hesse. He can show you the best available properties in the Golden State's capital.