Housing Markets and Fastest Growth #realestate #homeownership

These Large Metros are Seeing the Fastest Growth
Source:  CNBC

The San Jose metro economy is among the largest growing economies, according to the Bureau of Economic Analysis.  San Jose's 8.9 percent growth led the 292 metro areas that saw their local economies grow last year.  San Francisco, Los Angeles, Riverside, and San Diego metro areas also ranked in the top 20 fastest growing economies at growth rates of 4.1 percent, 3.9 percent, 3.8 percent, and 2.5 percent, respectively.

While the economies of most major American metro areas have fully recovered, many smaller cities are still struggling to climb back to pre-recession levels.

Only San Francisco Housing Market is more Popular than Austin
Source:  Culture Map Austin

A survey from Zillow found that only searches for homes in San Francisco gets more page views than Austin.  A home in Austin gets more page views from outside searches than 86 percent of other markets.

On the flip side, many people who live in Austin and San Francisco are looking at homes outside of their respective cities.  Zillow says over half of Austin-based views are of homes outside of the area; in San Francisco, the figure is similar.  There are multiple reasons people may want to relocate, but cost of living is among the most prevalent, according to Zillow executives.  And, notes the real estate website, Austin home value growth increased 9 percent over the past year, even outpacing San Francisco.

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