Austin among the hottest housing markets for 2020, according to new survey

AUSTIN, Texas — The year may have just started, but the Austin housing market is already heating up.

According to a survey of more than 100 economists and property experts complied by real estate website Zillow, Austin is most expected to outperform the national average in 2020.

It joins other southern cities such as Charlotte, Atlanta and Nashville for expected home value growth.

On the other hand, California cities such as San Francisco, San Jose and Los Angeles are expected to underperform.

“Having subjected buyers to a crucible of fierce competition for multiple years, many West Coast markets hit an affordability ceiling that set off declining home values in the most expensive of these,” said Skylar Olsen, Zillow’s director of economic research.

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According to the panelists, Austin earned a score of 76, with a whopping 83% of respondents saying the Austin market would outperform the U.S. and only 7% saying it would underperform.

Charlotte earned a score of 59; Atlanta earned a score of 51 and Nashville earned a score of 49. Charlotte was the only city where no panelists predicted it would underperform.

Other Texas cities on the list with positive scores include Dallas, San Antonio and Houston.

Panelists on average expect U.S. home values to grow by 2.8% in 2020, led by growth in the Southwest and Southeast.

The full results can be found on the Zillow website.