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The 10 Hottest Housing Markets for 2014

Guest Writer
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According to real-estate firm Zillow, Salt Lake City is the place to be for great real-estate deals in 2014. The capital of Utah tops the firm's predictions for the hottest housing markets in the nation for the upcoming year. Seattle, Miami, San Diego and Boston also made the list.

To determine which markets will be buzzing in 2014, Zillow combined data on unemployment rates, population growth and the Zillow Home Value Forecast. 'Hot' markets boasted lower than average unemployment, population growth greater than 2 percent during the past two years and are forecasted to have home value growth of more than 2 percent during the next 12 months.

Related: Zillow Buys Rival StreetEasy to Corner the New York City Market

While in every housing market on the list home prices are forecasted to continue to increase, values are not predicted to rise as rapidly as they did in 2013 (in which, according to Zillow, home prices increased by roughly 5 percent nationwide and more than 20 percent in some local markets). "This year, home value gains will slow down significantly because of higher mortgage rates, more expensive home prices, and more supply created by fewer underwater homeowners and new construction," the firm predicted.

For a full list of Zillow's top 10 picks for the hottest housing markets this year, check out the slideshow below. (Note: The figures that follow are taken from Zillow's Home Value Index for January 9, 2014).

The 10 Hottest Housing Markets for 2014

10) Boston

Median home value: $411,100

Increase in home values last year: 10.9 percent

1-year forecasted increase: 3.3 percent 

The 10 Hottest Housing Markets for 2014

9) Portland, Ore.

Median home value: $285,000

Increase in home values last year: 10.9 percent

1-year forecasted increase: 4.0 percent

The 10 Hottest Housing Markets for 2014

8) San Diego

Median home value: $470,600

Increase in home values last year: 17.6 percent

1-year forecasted increase: 6.7 percent

The 10 Hottest Housing Markets for 2014

7) Jacksonville, Fla

Median home value: $111,900

Increase in home values last year: 13.7%

1-year forecasted increase: 6.0%

The 10 Hottest Housing Markets for 2014

6) Raleigh, N.C.

Median home value: $183,500

Increase in home values last year: 6.6 percent

1-year forecasted increase: 3.6 percent

The 10 Hottest Housing Markets for 2014

5) Miami

Median home value: $259,000

Increase in home values last year: 27.3%

1-year forecasted increase: 10.2%

The 10 Hottest Housing Markets for 2014

4) San Jose, Calif.

Median home value: $646,700

Increase in home values last year: 18 percent

1-year forecasted increase: 5.1 percent

The 10 Hottest Housing Markets for 2014

Austin, Texas

Median home value: $300,990

Increase in home values last year: Data not immediately available

1-year forecasted increase: Data not immediately available

The 10 Hottest Housing Markets for 2014

2) Seattle

Median home value: $432,900

Increase in home values last year: 10.3 percent

1-year forecasted increase: 5.5 percent

The 10 Hottest Housing Markets for 2014

1) Salt Lake City

Median home value: $256,800

Increase in home values last year: 11.8 percent

1-year forecasted increase: 5.9 percent

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  • The 10 Hottest Housing Markets for 2014
  • 10) Boston
  • 9) Portland, Ore.
  • 8) San Diego
  • 7) Jacksonville, Fla
  • 6) Raleigh, N.C.
  • 5) Miami
  • 4) San Jose, Calif.
  • Austin, Texas
  • 2) Seattle
  • 1) Salt Lake City
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