Santa Barbara Ranked As One of Best Housing Markets For the Next 5 Years by Business Insider
This last week, Business Insider published and article (by Mamta Badker) ranking the 15 best housing markets for the coming 5 years. Just as I have been pointing out with statistics over the last 5 months here in Santa Barbara, our market is strong. Here below is a quick excerpt from the article that puts Santa Barbara 5th best on the list of 15 real estate markets.
"National home prices are expected to climb 0.3 percent in the next year, according to the latest home price report by Fiserv Case - Shiller. But over the next five years, home prices are projected to rise 3.3 percent. We drew on Fiserv Case-Shiller data to identify the best housing markets for the next five years. The top 15 cities are ranked by the projected annualized change in home prices between Q2 2012 and Q2 2017. We also included the median home price, median household income, unemployment rate, and the change in home prices since their peak to offer a broader view of the local economy and housing market." The article goes on to state that the Santa Barbara real estate area has an annualized expected growth over the coming 5 years at 8.4 %.
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Berkshire Hathaway.
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