Birmingham named one of America’s ‘hottest housing markets’

Prognosticators are saying 2014 just might be a big year for the Birmingham, Ala. real estate market.

CNN Money just released a brand new list of the 10 hottest housing markets for the coming year, and it looks like the Magic City stacks up well against other metropolitan areas around the country.

Here’s was CNN had to say about Birmingham:

Median home price: $174,000
Forecast gain through Sept. 2014: 7.8%

After years of investing in revitalization efforts — turning old warehouses into offices, opening new parks, building a minor league baseball stadium — Birmingham is finally seeing the big payoff.

People are no longer fleeing from the inner city, new businesses are moving in and home prices are actually on the rise.

In the 12 months ended September, home prices climbed 6%, bringing the median home price in the metro area to $174,000. And CoreLogic expects above-average returns again this year, forecasting a 7.8% increase in the 12 months ending in September.

The good news comes only a couple of weeks behind Birmingham also being named one of America’s most affordable cities.

Here’s the full list of the country’s hottest housing markets, according to CNN:

Oakland, California
Fort Worth, Texas
New Orleans, Louisiana
Richmond, Virginia
Hartford, Connecticut
Tampa, Florida
Baltimore, Maryland
Birmingham, Alabama
New York, New York
Memphis, Tennessee

---

Follow Cliff on Twitter @Cliff_Sims