Bakersfield was named one of the top 10 housing markets and neighborhoods to watch in 2019, according to a new report out by the real estate listings website, Trulia.
The report was based on the 100 largest U.S. metros, Trulia identified which markets are best poised for growth based on five key metrics:
- Job growth over the past year, as a measure of a robust economy.
- Vacancy rates, as an indicator that housing supply does not exceed demand.
- Good starter-home affordability, as a signal that first-time home buyers stand a chance at buying a home.
- More inbound than outbound home searches on Trulia, as a gauge that more people are interested in that market than those looking to leave.
- A large share of the adult population under the age of 35, which represents more potential first-time buyers.
Bakersfield and Fresno were the lowest-priced California housing markets among the largest 100 metros, according to the study.
Northeast Bakersfield was identified as the “hottest neighborhood,” based on both local price appreciation and how quickly homes are flying off the market, according to Trulia.
For more on Trulia’s report, click here: www.trulia.com/research/2019-markets-to-watch/