Top Housing Markets for 2022

Amid Larger Prices in 2023, Housing Markets in Reasonably priced, Mid-Sized Manufacturing Hubs will Keep Busy

As famous in our 2023 housing forecast and economic overview, we anticipate the continuing excessive price of housing to be a significant component shaping the choices of households selecting how and the place to dwell whether or not they hire or personal their residence. On this replace, our 2023 High Housing Markets report, we zoom in on the highest ten markets ranked by gross sales and value development to see why these areas are poised to do properly in a difficult time for the housing market. The overarching traits that drove the nationwide forecast, are seen in these high markets. 

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High 10 Housing Markets Positioned for Development in 2023

Rank* Metro 2023 Gross sales Development % y/y 2023 Worth Development % y/y Mixed Development
1 Hartford-West Hartford-East Hartford, Conn. 6.5% 8.5% 15.0%
2 El Paso, Texas 8.9% 5.4% 14.3%
3 Louisville/Jefferson County, Ky.-Ind. 5.2% 8.4% 13.6%
4 Worcester, Mass.-Conn. 2.5% 10.6% 13.1%
5 Buffalo-Cheektowaga-Niagara Falls, N.Y. 6.3% 6.0% 12.3%
6 Augusta-Richmond County, Ga.-S.C. 6.2% 5.7% 11.9%
7 Grand Rapids-Wyoming, Mich 1.6% 10.0% 11.6%
8 Columbia, S.C. 7.7% 3.6% 11.3%
9 Chattanooga, Tenn.-Ga. 2.9% 8.2% 11.1%
10 Toledo, Ohio 4.2% 6.7% 10.9%
United States -14.1% 5.4% -8.7%

Rating relies on the mixed yearly share development in each residence gross sales and costs anticipated in 2023 among the many high 100 largest markets within the nation per Realtor.com’s metro degree housing forecast. In circumstances of a tie, Gross sales Development y/y was used as a tiebreaker.

Realtor.com: Top 10 Markets for 2023 - list and infographic

The Transfer to Affordability Elevates Markets The place Shopping for is Attainable

The 2020-22 interval left indelible marks on the economic system and housing markets. Amongst these, the Federal Reserve’s financial coverage mixed with a long-term underbuilding pattern induced a whiplash in affordability. Within the early levels of the COVID-19 pandemic and thru 2021, the central financial institution’s push to decrease borrowing prices and flood the monetary system with capital led to mortgage charges dropping to report lows. The online impact was to considerably enhance debtors’ funds capability, enabling them to interact in bidding wars as they competed for the small variety of houses on the market. Nevertheless, in 2022, the Fed reversed course, rising the coverage rate of interest and pulling again from the mortgage-backed securities market, making borrowing way more costly, particularly for residence customers. The online impact was a 10-month surge in mortgage charges from 3.1% in the beginning of the 12 months to almost 7.1% in early November.

During the last three years, the provision of houses, whether or not new or current, additionally dropped to report lows as seen in each homeowner and rental vacancy rates which tumbled to or close to long-term lows. This short-supply was the results of over a decade of underbuilding new construction, coupled with Individuals dwelling longer of their houses. This was additionally evident within the for-sale market the place the variety of houses obtainable on the market reached a report low early in 2022. With fewer properties to select from and favorable borrowing circumstances, costs skyrocketed to a new high in June 2022.

For many homebuyers, this era capped a decade during which rising residence costs and lagging incomes led to shrinking affordability. This pattern accelerated in 2022, as surging mortgage charges sidelined numerous patrons.

For homebuyers, the pure course was to hunt affordability wherever they might discover it. With the flexibility to work remotely a actuality, many patrons pushed the boundaries of their searches farther away from massive city facilities towards mid-sized cities with robust economies.

Hartford CT aerial city image
Hartford CT view of the town. Photograph by Balazs Busznyak.

The transfer towards affordability will proceed in 2023, as excessive costs and mortgage charges drive patrons to search out lower-priced houses. The highest markets anticipated to carry out properly subsequent 12 months supply a stable mixture of native financial circumstances, proximity to bigger employment facilities, and critically, extra reasonably priced housing. Even in an setting the place households are discovering that their {dollars} now not stretch so far as they did just some months in the past, cities like Hartford, El Paso, Louisville, or Chattanooga supply a bigger share of reasonably priced houses for a median earnings.

Within the High 10 metros for 2023, about 23% of housing stock is reasonably priced on the median earnings degree, a noticeable enchancment from all the opposite markets. When contemplating all different markets and excluding the High 10, solely 17% of accessible houses on the market are reasonably priced to a family incomes the median earnings. And that affordability image worsens significantly within the 10 metros the place gross sales and value development is predicted to be weakest in 2023. In these areas lower than 4% of stock is financially attainable to a household incomes the native median earnings. 

2023 Forecast Metro Group % of Stock Reasonably priced to Median Revenue 2022-10 % of Stock Reasonably priced to Median Revenue 2021-10 Distinction (Share Factors) Distinction (%)
High 10 22.7% 43.1% -20.4 -53.0%
All 100 17.4% 34.0% -16.6 -55.7%
Backside 90 16.8% 33.0% -16.2 -56.0%
Backside 10 3.8% 14.3% -10.5 -69.8%

 

Patrons Are More and more In search of Properties Throughout the State and Throughout State Strains

With the seek for affordability changing into a defining trait of the house purchasing expertise in 2023, patrons are keen to take their search away from their present cities to places throughout the state, and even throughout state traces. Within the third quarter of 2022, over 60% of homebuyers looking at properties on Realtor.com searched away from their current cities. This can be a noticeable enhance from the lower than 50% who searched throughout geographies pre-pandemic.

Because of the excessive price of properties, customers from the Northeast and West areas dominate the checklist of these on the lookout for reasonably priced houses away from their present metropolitan space. With 69% of out-of-metro views, the Northeast leads the best way in cross-market residence purchasing, particularly from costly markets like New York and Boston. Within the West area—residence to equally, or much more costly metros, like San Jose-Santa Clara, San Francisco, Los Angeles, or Seattle—66% of residence customers checked out properties in different markets.

Louisville KY view of downtown
Louisville KY view of the town throughout the river. Photograph by Miles Manwaring.

These traits are mirrored within the cross-market demand information for the High 10 markets, the place virtually half of customers are searching for houses from different states. In Hartford, CT, homebuyers from New York, Boston, and Washington, DC, had been main the wave of out-of-state views within the third quarter of 2022. With a median value of $372,000 in November 2022, Hartford’s houses supplied a major worth proposition, in contrast not solely to the excessive value of homes in New York Metropolis ($669,000), but additionally the nationwide median ($415,750).

Equally, El Paso’s $291,000 median value in October 2022 was not solely well-below the U.S. median, however a relative cut price for patrons from Phoenix, Dallas-Fort Price, or Salt Lake Metropolis, the three high metros which led the checklist of out-of-metro views. Mirroring site visitors patterns that present the attractiveness of the Lone Star state to non-residents, 53.9% of Realtor.com views to El Paso got here from exterior Texas and alongside the practically 10% from different components of the state mixed for a complete of two-thirds of the El Paso market’s residence purchasing site visitors from some other place (66.8%).

The image was comparable in Louisville, KY, the place a robust native economic system, favorable location alongside a serious commerce route, and affordability are resulting in 49.8% of residence customers to hunt houses from exterior Kentucky. Homebuyers from New York, Atlanta, and Nashville are discovering the $300,000 median value extremely enticing.

Metro Views w/in Metro Views w/in State Views from Different States Worldwide Views
Hartford-West Hartford-East Hartford, Conn. 38.4% 11.6% 49.1% 0.8%
El Paso, Texas 33.2% 9.7% 53.9% 3.3%
Louisville/Jefferson County, Ky.-Ind. 43.7% 6.0% 49.8% 0.6%
Worcester, Mass.-Conn. 31.4% 27.1% 40.7% 0.8%
Buffalo-Cheektowaga-Niagara Falls, N.Y. 44.8% 31.9% 20.3% 3.0%
Augusta-Richmond County, Ga.-S.C. 24.3% 16.4% 58.3% 1.0%
Grand Rapids-Wyoming, Mich 35.2% 24.0% 40.1% 0.7%
Columbia, S.C. 24.0% 7.6% 67.4% 1.0%
Chattanooga, Tenn.-Ga. 28.2% 12.9% 58.1% 0.7%
Toledo, Ohio 38.2% 18.3% 42.7% 0.8%

We anticipate cross-market exercise to proceed in 2023, as affordability will hold these high markets within the highlight for homebuyers. Whether or not it’s retirees on the lookout for a decrease price of dwelling, or younger households searching for bigger houses, higher faculty districts or a better high quality of life, they may proceed to search out these qualities in smaller markets. 

El Paso TX view of the city
El Paso TX view of the town. Photograph by Chris Carzoli.

These Are Not Pandemic-Period Hotspots with Room to Catch up

The High 10 housing markets for 2023 have additionally seen lower cost will increase in more moderen months, which suggests they’ve skilled a comparatively smaller affordability crunch than different markets. The High 10 markets noticed sale costs within the 12 months ending August 2022 develop by 10.5% on a year-over-year foundation, in comparison with a development charge of 12.6% for all 100 metros and a charge of 17.3% for the metros forecasted to sluggish essentially the most in 2023.

The High 10 2023 markets, having skilled a comparatively decrease affordability crunch than extraordinarily scorching pandemic-era markets, have additionally seen much less of a decline in gross sales in current months. Within the 12 months ending August 2022, the High 10 2023 markets noticed gross sales decline by 9.1% year-over-year, on common, in comparison with a median decline of 12.3% for all 100 metro areas and a decline of -15.0% for the underside 10 2023 markets. 

Metro Group Counts Aug 2019 to 2022 Change Counts 2021 YY Counts 12 Months Ending August 2022 YY Counts 2023 Forecast Costs Aug 2019 to 2022 Change Costs 2021 YY Costs 12 Months Ending August 2022 YY Costs 2023 Forecast
High 10 9.3% 14.8% -9.1% 5.2% 36.3% 13.3% 10.5% 7.3%
All -5.5% 14.2% -12.3% -3.0% 37.8% 13.9% 12.4% 5.2%
All Excl. High -7.2% 14.1% -12.6% -3.9% 37.9% 14.0% 12.6% 5.0%
Backside 10 -21.3% 15.5% -15.0% -21.0% 43.5% 18.1% 17.3% 3.0%

 

The High Areas Are Considerably Insulated from Rising Mortgage Charges

Along with having seen smaller gross sales and value jumps amid the frenzy of the pandemic residence shopping for spree, the 2023 High Housing Markets are considerably insulated from the shock of rising mortgage charges for 3 causes. First, they’re extra reasonably priced, as detailed above. Second, they’ve a larger share of house owners who personal their houses outright, and not using a mortgage. Third, particular government-backed loan-types that may assist patrons safely enter the market with decrease down funds that additionally are inclined to have barely decrease mortgage charges are extra widespread in these markets.

In keeping with the newest American Neighborhood Survey, 38.4% of house owners from the High 10 markets lived in housing items and not using a mortgage, barely greater than the top-100 common (35.9%). Moreover, in 4 of the High 10 markets, greater than 2 in 5 householders personal their houses outright: Augusta-Richmond, GA-SC (42.3%), Buffalo-Cheektowaga, NY (43.2%), Chattanooga, TN-GA (40.4%), and El Paso, TX (45.1%).

Chattanooga TN view of the city across the river
Chattanooga TN view of the town throughout the river. Photograph by David Sager.

Whereas the outright share of cash-buying is barely decrease within the high markets, it has been rising quicker, on common, than within the high 100 markets. Between Jan.-Aug. 2022, the common money gross sales share within the High 10 markets was 31.7%, 3.2 share factors greater than 2021 and 4.3 share factors greater than the identical interval in 2019. In El Paso, TX, practically 2 in 5 current gross sales had been transacted with money. The next share of money gross sales was additionally present in Augusta-Richmond, GA-SC (35.5%), Toledo, OH (35.2%), and Chattanooga, TN-GA (35.0%). This hole is true amongst each new development houses bought and current houses bought.  

Along with money gross sales, gross sales within the High 10 metros additionally are inclined to transact extra with government-backed mortgage merchandise similar to VA loans and FHA loans. These loans are designed to assist veterans and first-time or minority residence customers efficiently change into householders. Nevertheless, in hotly aggressive actual property markets, patrons utilizing these loans can typically discover themselves at an obstacle as these loans characteristic buyer-protections which will embody extra circumstances for sellers than different mortgage varieties. Between Jan.-Aug. 2022, the share of gross sales with a VA mortgage was 9.4% within the high 10 markets vs. 7.5% within the high 100 markets amongst mortgaged-purchases. In El Paso, TX (24.2%) and Augusta-Richmond, GA-SC (23.0%), the share of gross sales with a VA mortgage was 3 times greater than the top-100 common. The next share with VA loans can be seen in Columbia, SC (14.5%), practically twice as excessive because the top-100 common. Equally, residence gross sales with a FHA mortgage was 13.7% within the High 10 markets vs. 11.8% within the high 100 markets. El Paso, TX (17.3%)  noticed the best share of FHA gross sales among the many high 10 markets, adopted by Augusta-Richmond, GA-SC (16.0%), Columbia, SC (15.8%), and Hartford-West Hartford et al., CT (15.4%).

 

Mid-sized Metros Profit from “Made-in-America” Development

The pandemic uncovered an Achilles heel of the far-flung provide chains which have change into the norm, specifically, that logistics will be disrupted by a wide selection of occasions. The highest markets poised for development signify a renewed deal with home trade together with manufacturing, training/healthcare and authorities jobs and a shift away from the knowledge {and professional} companies sectors which have lately been buoyed by tech corporations. These markets largely flew below the radar within the pandemic frenzy, and are well-positioned to bubble up with stable job prospects with out the big-city price ticket. 

The forecasted high development markets are available forty fourth to 98th amongst US metros when rating by variety of households. Louisville is the most important high market with roughly 518,000 households and Chattanooga is the smallest with 233,000 households. On common, these mid-sized metros make use of a better proportion of staff in manufacturing, authorities and training/healthcare jobs relative to the 100 largest US metros. On the flip facet, tech jobs are much less widespread in these areas. These metros had a comparatively low proportion {of professional} companies employment, info know-how and leisure/hospitality.

Buffalo NY aerial city view
Buffalo NY view of the town. Photograph by Pavol Svantner.

The midwestern metros of Grand Rapids and Toledo lead the checklist in proportion of producing jobs with 20.0% and 15.6% of whole employment, respectively. Solely El Paso bucks this pattern with 5.3% of its workforce in manufacturing, lagging the common for the highest 100 metros (7.5%). As a substitute, El Paso leads the checklist in proportion of presidency employment with 21.4% of its workforce. El Paso is the house to Fort Bliss, the only largest employer within the space. Equally, Columbia, SC (residence of Fort Jackson) and Augusta, GA (residence of Fort Gordon) authorities workers make up 19.3% and 18.3% of the workforce, respectively. 

Worcester, which incorporates UMass Memorial Well being Care and Medical Faculty, sees virtually 1 / 4 of its inhabitants in training and healthcare jobs. Equally, 19.2% and 17.6% of employment in Hartford, CT and Buffalo, NY is in healthcare and training jobs, respectively. Whereas the highest market checklist basically falls in keeping with the highest 100 markets in proportion of commerce/transportation jobs (19.0%), Louisville, KY surpasses the common with 22.7% of its workforce employed on this sector.

Key Stats for High 10 Housing Markets in 2023 

High 10 Markets (Avg) Largest 100 Markets (Avg)
Gross sales % Change YoY 2023 (projected) +5.2% -3.0%
Worth % Change YoY 2023 (projected) +7.3% +5.2%
Median Listing Worth
Nov 2022
$415,750 $429,900
Median Listing Worth
Nov 2022 YoY
+11.0% +8.7%
Households YoY 2023 (projected) +0.6% +0.9%

 

2023 High Housing Markets:

1. Hartford-West Hartford-East Hartford, Conn.
Nov 2022 Median home value: $ 372,000
Residence value change: +8.5 p.c
Gross sales change: +6.5 p.c
Mixed gross sales and value development: +15.0 p.c 
2. El Paso, Texas
Nov 2022 Median residence value: $291,000
Residence value change: +5.4 p.c
Gross sales change: +8.9 p.c
Mixed gross sales and value development: +14.3 p.c
3. Louisville/Jefferson County, Ky.-Ind.
Nov 2022 Median residence value: $290,000
Residence value change: +8.4 p.c
Gross sales change: +5.2 p.c
Mixed gross sales and value development: +13.6 p.c
4. Worcester, Mass.-Conn.
Nov 2022 Median residence value: $ 447,000
Residence value change: +10.6 p.c
Gross sales change: +2.5 p.c
Mixed gross sales and value development: +13.1 p.c
5. Buffalo-Cheektowaga-Niagara Falls, N.Y.
Nov 2022 Median residence value: $240,000
Residence value change: +6.0 p.c
Gross sales change: +6.3 p.c
Mixed gross sales and value development: +12.3 p.c
6. Augusta-Richmond County, Ga.-S.C.
Nov 2022 Median residence price: $ 319,000
Residence value change: +5.7 p.c
Gross sales change: +6.2 p.c
Mixed gross sales and value development: +11.9 p.c
7. Grand Rapids-Wyoming, Mich
Nov 2022 Median home value: $ 358,000
Residence value change: +10.0 p.c
Gross sales change: +1.6 p.c
Mixed gross sales and value development: +11.6 p.c
8. Columbia, S.C.
Nov 2022 Median residence price: $300,000
Residence value change: +3.6 p.c
Gross sales change: +7.7 p.c
Mixed gross sales and value development: +11.3 p.c
9. Chattanooga, Tenn.-Ga.
Nov 2022 Median residence value: $ 397,000
Residence value change: +8.2 p.c
Gross sales change: +2.9 p.c
Mixed gross sales and value development: +11.1 p.c
10. Toledo, Ohio
Nov 2022 Median residence value: $ 161,000
Residence value change: +6.7 p.c
Gross sales change: +4.2 p.c
Mixed gross sales and value development: +10.9 p.c

 

Realtor.com® 2023 Housing Forecast – 100 Largest U.S. Metros (Ranked)

Rank* Metro Mixed Gross sales & Worth Change (% Y/Y) Gross sales Change (% Y/Y) Worth Change (% Y/Y)
1 Hartford-West Hartford-East Hartford, Conn. 15.0% 6.5% 8.5%
2 El Paso, Texas 14.3% 8.9% 5.4%
3 Louisville/Jefferson County, Ky.-Ind. 13.6% 5.2% 8.4%
4 Worcester, Mass.-Conn. 13.1% 2.5% 10.6%
5 Buffalo-Cheektowaga-Niagara Falls, N.Y. 12.3% 6.3% 6.0%
6 Augusta-Richmond County, Ga.-S.C. 11.9% 6.2% 5.7%
7 Grand Rapids-Wyoming, Mich 11.6% 1.6% 10.0%
8 Columbia, S.C. 11.3% 7.7% 3.6%
9 Chattanooga, Tenn.-Ga. 11.1% 2.9% 8.2%
10 Toledo, Ohio 10.9% 4.2% 6.7%
11 Little Rock-North Little Rock-Conway, Ark. 10.8% 6.2% 4.6%
12 Baltimore-Columbia-Towson, Md. 10.4% 4.9% 5.5%
13 Des Moines-West Des Moines, Iowa 10.4% 4.1% 6.3%
14 Columbus, Ohio 9.6% 4.6% 5.0%
15 Pittsburgh, Pa. 9.6% 4.2% 5.4%
16 Springfield, Mass. 9.6% 0.7% 8.9%
17 Omaha-Council Bluffs, Neb.-Iowa 9.5% 4.7% 4.8%
18 Memphis, Tenn.-Miss.-Ark. 9.4% 2.5% 6.9%
19 Cincinnati, Ohio-Ky.-Ind. 9.1% 3.0% 6.1%
20 Kansas City, Mo.-Kan. 9.1% 1.9% 7.2%
21 Virginia Beach-Norfolk-Newport News, Va.-N.C. 9.0% 3.9% 5.1%
22 Boston-Cambridge-Newton, Mass.-N.H. 8.9% -0.6% 9.5%
23 Dayton-Kettering, Ohio 8.4% 2.8% 5.6%
24 Greensboro-High Point, N.C. 8.4% 2.2% 6.2%
25 Winston-Salem, N.C. 8.2% 2.4% 5.8%
26 Milwaukee-Waukesha-West Allis, Wis. 8.1% 0.4% 7.7%
27 Harrisburg-Carlisle, Pa. 7.7% 4.7% 3.0%
28 Albany-Schenectady-Troy, N.Y. 7.7% 3.0% 4.7%
29 Lansing-East Lansing, Mich 7.5% 3.1% 4.4%
30 Houston-The Woodlands-Sugar Land, Texas 7.4% 2.9% 4.5%
31 San Antonio-New Braunfels, Texas 7.1% 2.5% 4.6%
32 Cleveland-Elyria, Ohio 7.0% 2.7% 4.3%
33 Syracuse, N.Y. 7.0% 0.9% 6.1%
34 Detroit-Warren-Dearborn, Mich 6.9% 0.7% 6.2%
35 Birmingham-Hoover, Ala. 6.9% -0.4% 7.3%
36 Oklahoma City, Okla. 6.8% 4.2% 2.6%
37 New York-Newark-Jersey City, N.Y.-N.J.-Pa. 6.8% 1.8% 5.0%
37 Indianapolis-Carmel-Anderson, Ind. 6.8% -1.0% 7.8%
39 Allentown-Bethlehem-Easton, Pa.-N.J. 6.6% 1.9% 4.7%
40 Rochester, N.Y. 6.6% 1.3% 5.3%
41 Durham-Chapel Hill, N.C. 6.6% 0.7% 5.9%
42 Tulsa, Okla. 6.4% 1.8% 4.6%
43 Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. 6.3% 0.6% 5.7%
44 Knoxville, Tenn. 6.1% -1.0% 7.1%
45 Scranton–Wilkes-Barre–Hazleton, Pa. 5.8% 0.0% 5.8%
46 Portland-South Portland, Maine 5.7% -4.6% 10.3%
47 New Orleans-Metairie, La. 5.5% -0.8% 6.3%
48 Dallas-Fort Worth-Arlington, Texas 5.3% 3.1% 2.2%
48 Greenville-Anderson-Mauldin, S.C. 5.3% 0.4% 4.9%
50 Charlotte-Concord-Gastonia, N.C.-S.C. 5.2% -0.3% 5.5%
51 Richmond, Va. 4.9% 0.1% 4.8%
52 Minneapolis-St. Paul-Bloomington, Minn.-Wis. 4.8% -0.8% 5.6%
53 Atlanta-Sandy Springs-Roswell, Ga. 4.4% -0.3% 4.7%
54 McAllen-Edinburg-Mission, Texas 4.3% -0.5% 4.8%
55 St. Louis, Mo.-Ill. 4.2% -0.4% 4.6%
56 Madison, Wis. 4.0% -5.0% 9.0%
57 New Haven-Milford, Conn. 3.5% 0.0% 3.5%
58 Colorado Springs, Colo. 3.5% -3.5% 7.0%
59 Spokane-Spokane Valley, Wash. 3.5% -6.1% 9.6%
60 Akron, Ohio 3.0% -0.8% 3.8%
61 Charleston-North Charleston, S.C. 3.0% -1.6% 4.6%
62 Providence-Warwick, R.I.-Mass. 2.8% -7.0% 9.8%
63 Wichita, Kan. 2.7% -4.3% 7.0%
64 Denver-Aurora-Lakewood, Colo. 2.3% -1.9% 4.2%
65 Albuquerque, N.M. 2.3% -3.0% 5.3%
66 Baton Rouge, La. 2.0% -5.1% 7.1%
67 Jacksonville, Fla. 1.6% -3.0% 4.6%
68 Nashville-Davidson–Murfreesboro–Franklin, Tenn. 1.6% -3.4% 5.0%
69 Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. 1.5% -3.5% 5.0%
70 Miami-Fort Lauderdale-West Palm Beach, Fla. 1.4% -2.0% 3.4%
71 Chicago-Naperville-Elgin, Ill.-Ind.-Wis. 1.0% -2.1% 3.1%
72 Bridgeport-Stamford-Norwalk, Conn. -0.6% -6.5% 5.9%
73 Salt Lake City, Utah -1.8% -7.6% 5.8%
74 Raleigh, N.C. -1.9% -7.3% 5.4%
75 Stockton-Lodi, Calif. -2.2% -8.6% 6.4%
76 Boise City, Idaho -2.2% -10.9% 8.7%
77 Deltona-Daytona Beach-Ormond Beach, Fla. -3.1% -7.9% 4.8%
78 Lakeland-Winter Haven, Fla. -3.4% -5.0% 1.6%
79 Seattle-Tacoma-Bellevue, Wash. -3.5% -10.3% 6.8%
80 Austin-Round Rock, Texas -3.6% -6.6% 3.0%
81 Ogden-Clearfield, Utah -4.6% -11.0% 6.4%
82 Urban Honolulu, Hawaii -4.7% -6.6% 1.9%
83 Bakersfield, Calif. -5.5% -7.5% 2.0%
84 Orlando-Kissimmee-Sanford, Fla. -5.6% -8.5% 2.9%
85 Riverside-San Bernardino-Ontario, Calif. -5.7% -7.2% 1.5%
86 Cape Coral-Fort Myers, Fla. -5.8% -5.9% 0.1%
87 Portland-Vancouver-Hillsboro, Ore.-Wash. -6.8% -10.7% 3.9%
88 Sacramento–Roseville–Arden-Arcade, Calif. -8.4% -12.1% 3.7%
89 Las Vegas-Henderson-Paradise, Nev. -8.6% -10.9% 2.3%
90 San Francisco-Oakland-Hayward, Calif. -10.0% -13.3% 3.3%
91 Tucson, Ariz. -10.2% -14.7% 4.5%
92 Fresno, Calif. -11.5% -13.7% 2.2%
93 Tampa-St. Petersburg-Clearwater, Fla. -11.7% -15.6% 3.9%
94 Los Angeles-Long Beach-Anaheim, Calif. -12.6% -15.8% 3.2%
95 Palm Bay-Melbourne-Titusville, Fla. -15.5% -18.3% 2.8%
96 Phoenix-Mesa-Scottsdale, Ariz. -15.8% -18.4% 2.6%
97 San Diego-Carlsbad, Calif. -23.7% -27.3% 3.6%
98 North Port-Sarasota-Bradenton, Fla. -25.5% -28.7% 3.2%
99 San Jose-Sunnyvale-Santa Clara, Calif. -26.1% -28.8% 2.7%
100 Oxnard-Thousand Oaks-Ventura, Calif. -27.4% -29.1% 1.7%

 

*Methodology 

Realtor.com®’s model-based forecast makes use of information on the housing market and general economic system to estimate 2023 values for these variables for the 100 largest U.S. metropolitan statistical areas by inhabitants dimension. These markets are then ranked by mixed forecasted development in residence costs and gross sales. In circumstances of a tie, forecasted year-over-year gross sales development was used as a tiebreaker.


*Ranked by Mixed Development. In circumstances of a tie, Gross sales Development y/y was used as a tiebreaker.

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