Breaking news! We’re in for another year of “accelerating home prices, expanding income and jobs, [and] new residents”.
Zillow says so, and Zillow should know! Because Zillow knows everything! It might even know how much your home is worth! Sorry, I got carried away.
The Universal Masters of Algorithms at Zillow Labs have determined that San Jose–most likely they mean the San Jose MSA, aka Silicon Valley–will lead the nation in home price appreciation this year. Median home value is predicted to soar 8.9 percent to $1,128,300.
Rents? you ask. Essentially flat, at a median and immodest $3514 per month.
Valley population growth will be incremental at .1 percent, and limited to people with a lifelong history of achievement who promise to skateboard to work.
Worried that our cost of living might go down for a change? Silicon Valley income will grow 7.9 percent in 2018, ensuring plenty of money to drive home prices up! up! up!
Everything you need to know about 2018 is in this graph.
Thinking of chucking the Valley rat race and moving to Portland or Raleigh or Seattle or Austin or Denver? So is everyone else: these cities also made Zillow’s top ten list for 2018 real estate hotness. As did Nashville, where techies are elbowing out country pickers. And San Francisco, where cable cars aren’t the only thing climbing to the stars.
So there you go: 2018 will be just like 2017, only more so.
copyright © John Fyten 2018