Zillow names Richmond as a top housing market in 2016
RICHMOND, VA (WWBT) - A real estate website dedicated to providing updates on more than 110 million US homes says that Richmond is one of the top 10 hottest housing markets in 2016.
Zillow.com says that home values in the city are expected to increase 2.2 percent. Richmond ranks behind Dallas, Seattle and Denver. Income growth and unemployment rates are also factored into Zillow's rankings.
Zillow predicts that the hottest neighborhoods in Richmond will be Church Hill (a 6.7 percent forecasted home value growth), Carytown (a 5.3 percent increase) and The Fan (a 4.8 percent increase).
"A strong and diverse economy is the driving force behind Richmond's high income growth, with government, finance, education, and manufacturing jobs robust in the area and expected to continue to in 2016," the Zillow report said.
Zillow's Top 10 Housing Markets for 2016:
1. Denver, CO
2. Seattle, WA
3. Dallas-Fort Worth, TX
4. Richmond, VA
5. Boise, ID
6. Ogden, UT
7. Salt Lake City, UT
8. Omaha, NE
9. Sacramento, CA
10. Portland, OR
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