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Portland forecast to have 10th hottest housing market

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UPDATE: Rose City among top 10 for real estate investing in 2015


The research arm of a national real estate firm is predicting Portland will have the 10th hottest housing market in the U.S. in 2016.

Portland home values are forecast to grow 5 percent this year, according to a study released by Zillow Real Estate Research on Tuesday.

Home values in some Portland neighborhoods are forecast to grow even faster, the firm says. They include Woodlawn at 7.2 percent, Parkrose at 7.1 percent, Sumner and King at 7 percent, Brentwood-Darlington and St. Johns at 6.5 percent, and Kenton at 6.4 percent.

The forecasts are based on home value appreciation, low unemployment rates, and strong income growth. Because of that, some cities ranked ahead of Portland are forecast to have lower increases in home values.

"Trendy tech centers like San Francisco, Seattle and Denver hogged the spotlight in 2015. But this year, the markets that shine brightest will be those that manage to strike a good balance between strong income growth, low unemployment and solid home value appreciation,” says Zillow Chief Economist Dr. Svenja Gudell. “As the job market continues to hum and opportunity becomes more widespread, the best housing markets are no longer limited to the coasts or one-industry tech towns. This year’s hottest markets have something for everyone, whether they’re looking for somewhere to raise a family or start their career.”

Those markets ranked above Portland are Denver at 5 percent, Seattle at 5.4 percent, Dallas-Fort Worth at 5.6 percent, Richmond at 2.2 percent, Boise at 4.7 percent, Ogden at 4.9 percent, Salt Lake City at 4.4 percent, Omaha at 3.2 percent, and Sacramento at 5.1 percent.

The full press release can be read at zillow.mediaroom.com/index.php?s=28775&item=137207.

Hot for real estate investment

A new ranking released Wednesday, Jan. 13, by HomeVesters of Dallas, Texas, said Portland was No. 6 on the list of the Top 10 cities for real estate investing during the last part of 2015.

HomeVesters worked with Local Market Monitor, a real estate forecasting company, to develop the list. Cities on the list had real estate markets that heated up in the final three months of the year.

“Due to a shortage of home construction since the recession, local housing markets with a strong economy will experience more demand than supply in the next few years,” said Ingo Winzer, president and founder of Local Market Monitor. “This will create higher priced homes and rising rents.”

Criteria to make the list include a population that had been growing at above-average rates (4 percent or better) with growth coming from people moving in search of jobs; a job growth of 2 percent or better; and low unemployment.

The Top 10 cities for real estate investing for the final months of 2015 were:

• Grand Rapids, Mich.

• Orlando

• San Antonio

• Dallas, Texas

• Austin

• Portland

• Seattle

• Charlotte, N.C.

• Salt Lake City

• Fort Lauderdale