JACKSONVILLE, Fla. -- Real estate marketplace Zillow has ranked Jacksonville as No. 7 of the top 10 hottest real estate markets for 2014.
To compile the list, Zillow looked at factors such as "lower than average unemployment, population growth of greater than 2 percent during the past 2 years and are forecasted to have home value growth of more than 2 percent during the next 12 months."
Zillow also made these overall predictions for 2014:
1. U.S. home values will increase by 3 percent
2. Mortgage rates will reach 5 percent by the end of the year
3. It will be easier for borrowers to get a mortgage in 2014
4. Homeownership rates will fall to their lowest point in nearly two decades.
First Coast News