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Real estate authority determines Dallas is a top 5 housing market for 2016

Real estate authority determines Dallas is a top 5 housing market

Pegasus atop Magnolia Hotel Dallas
Dallas' housing market is the No. 3 in the country, says Zillow. Photo courtesy of Magnolia Hotel Dallas

Last year was a record breaker for the Dallas-Fort Worth real estate market, but 2016 is expected to be even bigger. Zillow has named its top 10 markets to watch this year, and DFW not only makes the list, it comes in third.

It's a bonus that the area is considered a "major tech town ... making it ideal for job growth," but DFW also possesses low unemployment and solid home value appreciation. Those two factors, plus strong income growth, are what Zillow ranked in its list.

"As the job market continues to hum and opportunity becomes more widespread, the best housing markets are no longer limited to the coasts or one-industry tech towns," says Zillow chief economist Dr. Svenja Gudell. "This year's hottest markets have something for everyone, whether they're looking for somewhere to raise a family or start their career."

Denver wins the crown, followed by Seattle. DFW's forecasted home value appreciation is the highest on the list (5.6 percent), but its 4 percent unemployment rate isn't quite as low as Denver's (3.1 percent). 

Rounding out the top 10 are Richmond, Virginia; Boise, Idaho; Ogden, Utah; Salt Lake City, Utah; Omaha, Nebraska; Sacramento, California; and Portland, Oregon.