Stockton/Lodi Area Forecast to be One of the Hottest Housing Markets in the Country Next Year
LODI — Things are looking up for the Stockton and Lodi areas, at least according to a major real estate website.
Realtor.com predicts that market will be one of the hottest in the nation next year.
Realtor.com looks at the top 100 housing markets around the country, and Stockton/Lodi landed in the top 10 for future sales growth.
But you don’t need a website forecast to see that things are looking up in Lodi as far as housing activity.
Two homes were sold this Thanksgiving weekend at the Vine, a Grupe Development that will have 57 homes. Retailers that have already built on the fringes of the city are betting on a big build-out of new homes.
“I’m not surprised by that. As the economy improves the housing market always improves,” said Michael Blower, vice president of Grupe Real Estate.
Blower says more buyers are poised to buy before interest rates go up.
Realtor.com rated Las Vegas as the top market in 2018 for sales and price growth. Hovering at number four is the Stockton/Lodi market.
By comparison, Fresno is at No. 40, Sacramento/Roseville is at 76.
You would think Stockton would be a long-shot for the top 10.
“We’re excited to see Stockton and Lodi at the top of the list,” said Patrick Wallace, CEO of Central Valley Association of Realtors.
Those following the housing markets say Stockton was ground zero for foreclosures 10 years ago and was slow to recover. That means prices are about 28 percent below where they were just before the crash in 2006.
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