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Zillow survey says Phoenix is the second hottest US home market in 2021

Phoenix is predicted to be the second-hottest home market in the U.S. in 2021, according to a recent survey that was published by Zillow.com

In this edition of Zillow’s “Home Price Expectations Survey,” 113 experts were interviewed between November and December 2020 where Phoenix came second to Austin, Texas. Almost 70% of the surveyors expected home value growth in Phoenix would outperform the rest of the United States.

The predictions follow the trend of Sun Belt cities expected to continue to rise, compared to the country’s large coastal markets like New York and Los Angeles. 

“The pandemic has not upended the housing market so much as accelerated trends we saw coming into 2020. These Sun Belt destinations are migration magnets thanks to relatively affordable, family-sized homes, booming economies, and sunny weather. Record-low mortgage rates and the increased demand for living space, coupled with a surge of Millennials buying their first homes, will keep the pressure on home prices there for the foreseeable future.”

2021 Hottest Markets

  1. Austin, TX
  2. Phoenix, AZ
  3. Nashville, TN
  4. Tampa, FL
  5. Denver, CO

2021 Coldest Markets

  1. New York, NY
  2. San Francisco, CA
  3. Los Angeles, CA
  4. Philadelphia, PA
  5. Minneapolis, MN

Read the full article here: https://www.zillow.com/research/zillow-hottest-markets-2021-28667/