Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  Zillow released their latest reports for the hottest neighborhoods, listing Nashville as the top in the country and Cypress Park the top in L.A.  Employment in U.S. increased again last month for the 75th month in a row.  At the same time, wage growth also increased last month after seeing a brief decline.

In The News:

Zillow – “Nashville is Zillow’s Hottest Housing Market for 2017” (1-6-17)

“Today, Zillow announced its predictions for 2017’s 10 hottest housing markets. Topping the list this year is Nashville, Tenn. followed by Seattle, a market with home value growth in the double-digits and some of the fastest rent growth in the country.”

DS News – “Wage Gains Highlight Latest Employment Data” (1-6-17)

“The headline numbers were lower than expected for the Bureau of Labor Statistics (BLS) Employment Situation covering December 2016, but wage growth—which many economists have cited as a key factor in the growth of housing—picked up during the month following a slight decline in the previous report.”

MarketWatch – “Here is one area of New York City real estate that’s slowing down” (1-6-17)

“It used to be that 85% of apartments in New York City were co-ops. But not any longer. City slickers aren’t as willing to pay their higher monthly fees — or deal with their persnickety boards.”

Los Angeles Times – “Top real estate sales of 2016: L.A.’s record year included two $100-million sales” (1-6-17)

“Storied estates and speculative development in Los Angeles County’s toniest neighborhoods pushed the high-end market to new heights in 2016..”

LA Weekly – “The Hottest Real Estate Neighborhood in L.A. Is…” (1-6-17)

“Angeleno home buyers this year are likely to continue to rediscover denser, more urban parts of the city. The latest Zillow Home Value Forecast names the hottest real estate neighborhood in L.A., and it’s not a huge surprise.”

The Real Deal – “US employment ends year on strongest note since 2009” (1-6-17)

“Good news for the real estate industry: U.S. employment grew for the 75th straight month in December and wage growth was the strongest since 2009.”

Seeking Alpha – “Real Estate Weekly: REIT Rally Continues As Data Centers And Malls Outperform” (1-6-17)

“Good news for the real estate industry: U.S. employment grew for the 75th straight month in December and wage growth was the strongest since 2009.”