It was no secret that e-commerce giant, Amazon, was looking for its second headquarters among major U.S. cities. Unfortunately, or fortunately, depending on your perspective on the idea, all of the finalists could not share the new jobs and billions predicted to inundate the local economy. Amazon chose Arlington, a northern city in Virginia and NYC to split the home of their HQ2. However, many of the areas considered, but ultimately rejected, are expected to outperform the national average over the coming year. This comes even as the overall market is slowing.
According to the 2018 Q4 Zillow Home Price Expectations Survey, sponsored by Zillow and conducted by Pulsenomics LLC, annual home value growth will be, on average, 3.8, down from 4.2 percent in the previous quarter.
Now for the twist. Denver, Washington, D.C., Atlanta and Dallas were named as the four markets most likely to outperform the national average rate of home value appreciation.Amazingly enough,all four were on Amazon’s final list of 20 candidate cities, before the retail giant selected the New York City and Arlington to split their HQ2.
Zillow actually predicts that the areas rejected will see economic growth as other companies come to see them as tech hubs because of the interest of such a large tech company.