Fort Collins among top 10 real estate markets in country

WASHINGTON — Fort Collins and Colorado Springs are among 10 markets in the country that the National Association of Realtors identified as communities likely to outperform the nation as a whole in the next three to five years.

The 10 markets are:

  • Charleston, South Carolina
  • Charlotte, North Carolina
  • Colorado Springs, Colorado
  • Columbus, Ohio
  • Dallas-Fort Worth, Texas
  • Fort Collins, Colorado
  • Las Vegas, Nevada
  • Ogden, Utah
  • Raleigh-Durham-Chapel Hill, North Carolina
  • Tampa-St. Petersburg, Florida

“Some markets are clearly positioned for exceptional longer-term performance due to their relative housing affordability combined with solid local economic expansion,” NAR’s chief economist Lawrence Yun said in a written statement. “Drawing new residents from other states will also further stimulate housing demand in these markets, but this will create upward price pressures as well, especially if demand is not met by increasing supply.”

Lawrence Yun, chief economist of the National Association of Realtors, spoke at a recent BizWest Real Estate Conference. BizWest/Doug Storum.

NAR identified the top 10 metro areas based on a myriad of factors, including domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, among other variables.

“Potential buyers in these 10 markets will find conditions especially favorable to purchase a home going into the next decade,” said Vince Malta, NAR president and broker at Malta & Co. Inc. in San Francisco.  “The dream of owning a home appears even more attainable for those who move to or are currently living in these markets.”

Strong job growth is one factor driving up prices in these markets, with payroll employment rising about 2.5 percent annually in the last three years, higher than the national rate of 1.6 percent. 

In Colorado Springs, recent movers accounted for 21 percent of the total population, followed by Fort Collins at 17 percent and Las Vegas at 16 percent. 

In most of the identified metro areas, about half of recent movers who are renting can afford to buy a home when compared to the nation’s 100 largest metro areas. Homeownership rates in these markets are expected to increase due to the relative affordability.

The NAR report identified 60,000 recent movers to the Fort Collins market, which accounts for 17 percent of the total population. Of the newcomers, the median age is 28 and median income was reported to be $50,000. The median value of homes that newcomers bought was $404,700.

Most, by far, of recent movers to Fort Collins came from elsewhere in Colorado with the Denver metro area the top source for new residents. Chicago and Los Angeles, respectively, were next-most-common sources for new residents to Fort Collins.

WASHINGTON — Fort Collins and Colorado Springs are among 10 markets in the country that the National Association of Realtors identified as communities likely to outperform the nation as a whole in the next three to five years.

The 10 markets are:

  • Charleston, South Carolina
  • Charlotte, North Carolina
  • Colorado Springs, Colorado
  • Columbus, Ohio
  • Dallas-Fort Worth, Texas
  • Fort Collins, Colorado
  • Las Vegas, Nevada
  • Ogden, Utah
  • Raleigh-Durham-Chapel Hill, North Carolina
  • Tampa-St. Petersburg, Florida

“Some markets are clearly positioned for exceptional longer-term performance due to their relative housing affordability combined with solid local economic expansion,” NAR’s chief economist Lawrence Yun said in a written statement. “Drawing new residents from other states will also further stimulate housing demand in these markets, but this will create upward price pressures as well, especially if demand is not met by increasing supply.”

Lawrence Yun, chief economist of the National Association of Realtors, spoke at a recent BizWest Real Estate Conference. BizWest/Doug Storum.

NAR identified the top 10 metro areas based on a myriad of factors, including domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, among other variables.

“Potential buyers in these…