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Richmond named nation’s fourth hottest housing market of 2016

Posted at 8:26 PM, Jan 12, 2016
and last updated 2016-01-12 20:26:26-05

Richmond has been named as one of the hottest housing markets in the country in 2016 by a real estate research website.

Zillow ranked Richmond fourth on the list just behind Denver, Seattle, and Dallas-Fort Worth at one, two, and three.

Top 5 hottest markets for 2016:

  1. Denver, Colo.
  2. Seattle, Wash.
  3. Dallas-Fort Worth, Texas
  4. Richmond, Va.
  5. Boise, Idaho

The website said they determined the list by looking at home value appreciation, low unemployment rates, and strong income growth.

“A strong and diverse economy is the driving force behind Richmond’s high income growth, with government, finance, education, and manufacturing jobs robust in the area and expected to continue to in 2016,” according to the report.

Here are the Richmond neighborhoods Zillow predicts to be the hottest in 2016.

  1. Church Hill – 6.7% forecasted home value growth
  2. Carytown – 5.3% forecasted home value growth
  3. The Fan – 4.8% forecasted home value growth
  4. Northern Barton Heights – 4.7% forecasted home value growth
  5. Forest Hill Terrace – 4.6% forecasted home value growth