10 hottest housing markets for 2014
CNN MONEY | 2014-02-07 16:15

 1.Oakland, Calif.
•Median home price : $545,000
•Forecast gain through Sept. 2014: 9.3%
Oakland-area home prices have come roaring back since the housing bust, jumping 26% for the 12 months through last September, according to CoreLogic Case-Shiller.
With the region's high-paying tech industry going strong, deep-pocketed workers continue to flock to the area helping to push the median home price to a whopping $545,000.
CoreLogic expects home prices to climb another 9.3% by the end of September. Yet this hot market is expected to eventually cool. Over the next five years, CoreLogic expects home price growth to slow to 4.5% annually.

2.Fort Worth, Texas
•Median home price : $181,300
•Forecast gain through Sept. 2014: 8.9%
Like most Lone Star state housing markets, Fort Worth's home prices remained fairly stable during the boom and bust years.
Two big factors helped keep the market from imploding: home building was cheap and the local economy strong. Wide open spaces and lax regulations helped keep land cheap and building costs low. While the Dallas/Fort Worth International Airport kept a steady supply of jobs and buyers coming to the area.
But now, as even more employers move into the metro area, there has been a surge in buyer demand -- and home prices.
Amazon (AMZN, Fortune 500) is building a distribution warehouse in Alliance, just North of the city, that will employ 1,000 workers. Wal-Mart (WMT, Fortune 500) and Motorola are also planning new facilities there, according to the Fort Worth Chamber of Commerce.
"A lot of companies are relocating here," said Tommy Dyer, an agent with Coldwell Banker Residential Brokerage.
CoreLogic Case-Shiller forecasts that home prices will climb 8.9% in the Fort Worth metro area for the 12 months through September.

3.New Orleans
•Median home price : $163,000
•Forecast gain through Sept. 2014: 8.7%
New Orleans has been rebuilding since Hurricane Katrina devastated the area.
As people have returned, buyer demand has perked up -- and so have home prices.
But there's still plenty of room for this housing market to grow. The median home price in the metro area was only $163,000 during the three months ended September, more than 20% below the national median.
CoreLogic is predicting home prices will increase by 8.6% over the next 12 months, followed by a better-than-average 5.4% increase in the year after that.

4.Richmond, Va.
•Median home price : $220,600
•Forecast gain through Sept. 2014: 8.5%
Home prices in Virginia's state capital have been running at a steady pace over the past three years, up about 3% annually since 2010.
That's been helped by the area's diverse economy -- which includes a stable mix of government, financial, education and manufacturing jobs -- and low unemployment rate, which is well below the national figure.
As a result, home sales have taken off and prices are starting to reflect that, according to the Richmond Association of Realtors. CoreLogic forecasts that home prices in the metro area will gain another 8.5% in the 12 months through September.

5.Hartford, Conn.
•Median home price : $234,000
•Forecast gain through Sept. 2014: 8.3%
Hartford may want to thank Obamacare for its home price gains in the upcoming year. Home to some of the nation's biggest insurers, like Aetna and UnitedHealth Group, the new health care law has helped these firms expand and bring jobs to the area, according to Thomas Deller, who directs development for the city of Hartford.
All of the white-collar jobs have kept household incomes high -- at a median of more than $85,000 last year. That makes the area's median home price of $234,000 quite affordable for most residents.
CoreLogic forecasts a 12-month gain of 8.3% through September and it expects the recovery to have legs. It sees another price increase of 6.6%, for the 12 months after that.

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