In a time when bubbles are bursting, mortgage lenders are failing, and well – much of the media would have you believe that the sky is falling – we can rest assured knowing that some real estate markets are doing as good as ever.  In fact, there are probably way more good markets nationwide than there are trouble areas.  We just tend to assume the worst – after all, negativity sells.

Where are the hottest markets and why?  Let’s take a look…

The Pacific Northwest Perseveres

According to Forbes.com (who gets their data from the National Association of Realtors), Seattle, Washington’s median home price for the first part of this year actually increased 12.3% to $380,200 when compared to a year earlier.  Also hot are Salem, Oregon and Portland, Oregon.  This is great news indeed for Pacific Northwesterners as some of these very same areas have been through some pretty tough times in the not so distant past.

It’s Always Hot in Texas

While everything’s reputedly bigger in Texas, I guess that could go either way when it comes to real estate.  We do know one thing though; San Antonio and Austin are both on the hot markets list, showing 11.2% and 5.4% year over year median house price gains respectively.  Especially not surprising is seeing Austin on the list.  After all, its population has totally exploded over the last several years.

Everybody Loves North Carolina and Virginia

If it’s not true that everybody loves the states of North Carolina and Virginia, then I don’t know what is.  Who wouldn’t want to live with the beautiful Appalachian, Blue Ridge and Smoky Mountains on one side and the Atlantic Ocean on the other?  Charlotte, North Carolina measures in at 6.4% year over year median home price growth, Raleigh, NC just under at 6.3%, Richmond, Virginia closely following at 6.2%, and Norfolk, VA right behind with 5.9% growth.

So What Makes These Places So Great?

I don’t think there’s a definitive answer, but the trends do give us a few clues.  First and foremost, people want to live where it’s beautiful.  I know that sounds like a cliché, but all of these areas are naturally appealing.  Second, the economy must be strong.  But rather than use a standard old indicator such as job growth, would it be fair to say that these are all areas where freelancers and independent workers tend to flock?  And lastly, these are all progressive areas on the move, but not blown out of proportion like many of the places where bubbles have burst – growth has been steady and balanced.