Home buyers are taking advantage of the hot summer months looking for the best bargains in homes that are listed in the market. As the temperatures rise, some of the metros in the country are being eyed by market analysts best real estate markets that would post higher home sales and rising prices in property.
Miami, FL is the top city where the housing market is expected to perform well. The real estate market in Miami has been posting good numbers so far. These results are caused by foreign buyers who are looking to invest in vacation homes as well as other investors who are in search of deals for low priced homes to rent out in the area.
Phoenix AZ has placed second in the list of housing markets that are also expected to perform very well this summer.
Other cities in Florida that experts see as hot real estate markets this summer are Fort Myers and Punta Gorda. Fort Myers falls into 3rd place while Punta Gorda placed 4th on the list. Fort Myers has listed the most number of home sales within the last 6 years. The state of Florida has also listed double digit gains from the home prices in the area within one year. Bargain hunters are now seizing the opportunities as the inventories in these cities are starting to run out. This shrinking inventory is also a cause for home prices to increase in this area.
Other cities that buyers are flocking to this summer are San Jose, CA; San Francisco, CA; and Santa Barbara, CA.; Boise ID., Seattle, WA.; and Las Vegas NV which completes the list of the top 10 metros.
Experts are also studying other factors which are influencing these real estate markets to show increased numbers in home sales. Mostly, it is the recovering housing markets such as those in San Francisco, and Las Vegas that are attracting home bargain hunters into these cities. Low priced homes are driving buyers to check properties in Boise, ID. While in Seattle, WA the improving conditions of this city’s job market is also helping its real estate market to recover.
Experts hope that these favorable conditions would continue through the fall and winter months as well. As we wind down the summer of 2012, it’s clear to see that it wasn’t only the temperature that rose but the housing markets as well.