CNN Money names Richmond a ‘hottest housing market’

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Selling your house? You may just be in luck if you live in Richmond. CNN Money has named the River City one of the country’s 10 hottest housing markets for 2014.

The median home price in Richmond is $220,600, according to CNN Money. “Home prices in Virginia's state capital have been running at a steady pace over the past three years, up about 3% annually since 2010,” says a write-up on their site.

CNN Money says home prices in Richmond have been helped by a diverse economy and a low unemployment rate. Data company CoreLogic predicts that home prices in the Richmond metro area will increase 8.5 percent through September.

Other Southern cities that made the list were Fort Worth, Texas; New Orleans, La.; Tampa, Fla.;Birmingham, Ala. and Memphis, Tenn.

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