Whether you are an investor, a home buyer, or a homeowner looking to relocate to a new area, it’s important to know what the hottest real estate market in 2022 is. In order to do this, you will want to have a solid grasp of the different markets across the country.
Phoenix
In addition to the hot housing market, the city also boasts a strong economy and attractive amenities. This combination makes it an ideal place for new residents and retirees. Located in the Sun Belt, Phoenix offers outdoor fun year round. It’s no wonder that it’s been nicknamed the “City of the Fountains.”
The Phoenix housing market has seen a lot of growth over the past two years. While the economy has been a strong factor, many experts have also credited the housing market as a source of recent improvements. With a booming job market and a growing population, the Phoenix area should remain a great place to buy or rent a home.
Austin
Having the hottest real estate market in 2022 may be a bit of a stretch, but there are a few factors that make Austin stand out. Aside from its high population growth, which is one of the biggest drivers of residential real estate demand, the city is also home to some of the largest companies in the tech industry.
Austin’s economy is diverse, with a thriving biotechnology, pharmaceutical and fintech sector, as well as a thriving community of digital start-ups. It is also home to the University of Texas Austin, which has more than 40,000 students.
As one of the hottest real estate markets in the country, the city has been attracting a lot of attention from investors and homebuyers. It is a seller’s market, which means that demand outpaces supply. As more and more people move to the area, prices are likely to continue to rise.
Manchester-Nashua
During a period when the rest of the country is feeling the effects of slow sales and high mortgage rates, Manchester-Nashua, New Hampshire, has emerged as the hottest real estate market for the beginning of 2022. The region is the only one in the Northeast to feature two metro areas on the list.
Insurify analyzed national real estate data to find out which markets have the strongest housing demand. Based on this data, they came up with a list of 20 hottest real estate markets for the next two years.
Insurify determined the hotness of an area based on its affordability, good-paying jobs, and amenities. The top 20 hottest housing markets were spread across 13 states.
Tampa
Among the hottest real estate markets in 2022, Zillow has listed the Tampa, Florida housing market as the top choice for homebuyers. The city has beaten out major metro areas like Phoenix, AZ and Austin, TX to take the spot.
Tampa has a diverse economy that is home to small businesses, military bases, and health care providers. It has also gained popularity as a vacation destination and retirement location. In fact, it has been ranked by numerous publications as the best place to live in the U.S. It’s also one of the fastest growing metropolitan areas in the country.
The thriving local economy has led to significant employment growth. This has helped boost the real estate market in the Tampa Bay area.
Nashville
Having been a leader in the real estate market for the past few years, Nashville is still a great place to invest in real estate. Home prices are expected to continue to rise, but at a slower rate than in recent years. A lower dollar will make it harder for homeowners to pay their mortgages, and higher interest rates will increase the cost of owning a home.
In addition to the increase in interest rates, the Nashville real estate market has been experiencing a slowdown. This isn’t necessarily reflected in the market data until August, but leading indicators may indicate a return to normalcy.
Conclusion
Despite the housing market being one of the hottest in the nation, the Atlanta real estate market has not crashed yet. However, there are early signs of a slowdown.
Although home prices are still rising, the number of homes on the market is also decreasing. This could lead to less movement in the price and could make it hard for buyers to get a good deal.
The inventory of homes in the metro area has been in a downward trend for the last 24 months. The demand for housing has remained strong, but builders are not building enough homes to meet the demand.
This is putting a lot of pressure on the Atlanta real estate market. It will continue to be a seller’s market. The inventory shortage will keep it that way. This will mean fewer starter homes for buyers.
