As summer continues to heat up so do the nation’s top single-family housing markets, each demonstrating consistently strong demand, home price appreciation, and economic and demographic growth, according to a recent report from Ten-X.
The report lists the 50 largest housing markets based on their current and forecasted housing fundamentals and from that list, Palm Beach County, Orlando, Tampa, Fort Lauderdale, and Seattle make up the top five markets. Florida claims four out of five of these markets despite the fact that it was one of the states severely exposed to the housing bust. Seattle market highs are attributed to the tech-driven gains of the Pacific Northwest.
Despite June’s increase, first-time foreclosure starts in Q2 of 2016 were at their lowest level in over 16 years, according to a report conducted by Black Knight Financial Services. The report, The First Look at June 2016 Mortgage Data, showed foreclosure starts increased for second consecutive Month while the monthly prepay rate rose on historically low rates. The total U.S. foreclosure starts numbered 69,300 for June with an increase of 11 point 59 percent month-over-month change.