Fresno has done it again. It made a list, but this time it’s a good list.
Boston leads the way followed by Dallas. San Diego is the only other California city to make the list at No. 9.
Fresno and the other markets currently have strong job growth which fuels housing demand and a low vacancy rate spurring construction, said Trulia’s chief economist Jed Kolko. Homes in these areas are not overvalued. And these areas have a high share of millennials, people ages 18 to 34.
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“These young adults are getting back to work and that will drive household formation and rental demand,” Kolko said.
Liz Kuchinski, president of the Fresno Association of Realtors, said it is nice to have Fresno mentioned on the list, but warns that it is not a forecast or based on specific statistics other than job growth and home valuation.
“Fresno is an extremely affordable community to purchase a personal residence or an investment property,” Kuchinski said. “Interest rate are still very low which adds to the affordability of our market. The positive job growth in Fresno also is a benefit to our community.”