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New Blog Article
Hot Real Estate Markets: A Move Away from the Coasts
December 12, 2019 – Two different companies, The National Association of Realtors® (NAR), and Realtor.com, have each identified markets expected to outperform in the coming years. The lists are quite different, with Realtor.com’s concentrating more on smaller markets.
Both sources believe that affordability and strong local economies are key to markets with strong prospects for the future. Note that very few of these cities are on the coasts, although the overwhelming majority are in warm weather climes.
In alphabetical order, here are the top 10 the NAR expects to outperform over the next three to five years.:
- Charleston, South Carolina
- Charlotte, North Carolina
- Colorado Springs, Colorado
- Columbus, Ohio
- Dallas-Fort Worth, Texas
- Fort Collins, Colorado
- Las Vegas, Nevada
- Ogden, Utah
- Raleigh–Durham–Chapel Hill, North Carolina
- Tampa–St. Petersburg, Florida
However, don’t stop with just the NAR report. Realtor.com jumped into the topic with its own list. Here are the “hottest” real estate markets they predict for 2020, along with median home prices. Note: many of these are smaller markets. The only overlap we see in the top 10 are Charleston and Colorado Springs.
| 1 | Boise, Idaho | $295,000 |
| 2 | McAllen-Edinburg-Mission, Texas | $152,000 |
| 3 | Tucson, Ariz. | $230,000 |
| 4 | Chattanooga, Tenn. | $189,000 |
| 5 | Columbia, S.C. | $178,000 |
| 6 | Rochester, N.Y. | $149,000 |
| 7 | Colorado Springs, Colo. | $312,000 |
| 8 | Winston-Salem, N.C. | $169,000 |
| 9 | Charleston-North Charleston, S.C. | $270,000 |
| 10 | Memphis, Tenn. | $188,000 |
The NAR offered additional explanation on its choices for hottest markets:
(more...)
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