When it comes to price appreciation, California markets are expected to continue leading growth over the next year, while certain areas concentrated in the Northeast should see a decline in home values, according to Veros Real Estate Solutions’ most recent forecast ending June 1, 2014.
The company’s forecast covers 969 counties, 324 metro areas, and 13,502 zip codes.
In the next 12 months, Veros projects San Francisco will come out ahead with a 12.7 percent increase.
The predictive technology software company described San Francisco as having a “serious housing shortage,” combined with “historically good affordability” and a lower unemployment rate of 6.7 percent compared to the national average of 7.6 percent as of May.
Other metros in the top five for price appreciation are Los Angeles (+11.6 percent), San Jose (+11.1 percent), Midland, Texas (+11.1 percent), and Phoenix (+10.9 percent).
Among the top 100 markets, Veros’ home price index (HPI) projects a 3.1 percent increase, marking the fourth straight quarterly gain.
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