Barron’s associate editor Andrew Bary shares his insights on affordability in today’s housing market on ‘Barron’s Roundtable.’
Realtor.com has released its projections for where the hottest housing markets in the U.S. will be in 2022, listing the ten areas it sees as positioned for the most growth next year.
The real estate site reported that the areas topping its list have strong local economies with vibrant culture and opportunities for recreation – and the combination of those factors are attracting new residents looking for remote work.
1. Salt Lake City, Utah
Winter daytime shot of Salt Lake City (iStock) (iStock / iStock)
Median home price: $564,062
Project home price increase: 8.5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Projected increase in home sales: 15.2{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Combined sales and price growth: 23.7{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
2. Boise City, Idaho
View of Boise downtown and Idaho Capitol on a fine autumn morning as seen from Capitol Blvd, Boise, Idaho, USA (iStock / iStock)
REAL ESTATE MARKET WILL CONTINUE TO MOVE IN ‘FAST DIRECTION’ AMID PENT-UP DEMAND: CENTURY 21 CEO
Median home price: $503,959
Project home price increase: 7.9{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Projected increase in home sales: 12.9{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Combined sales and price growth: 20.8{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
3. Spokane-Spokane Valley, Washington
Wide-angle view of Washington Water Power building and the Monroe Street Bridge along the Spokane river, in Spokane, Washington. (iStock / iStock)
Median home price: $419,803
Project home price increase: 7.7{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Projected increase in home sales: 12.8{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Combined sales and price growth: 20.5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
4. Indianapolis-Carmel-Anderson, Indiana
The White River in front of the Indianapolis skyline on September 22, 2020, in Indianapolis, Indiana. (Photo by C. Morgan Engel/Getty Images) ((Photo by C. Morgan Engel/Getty Images) / Getty Images)
ZILLOW QUITS HOME-FLIPPING BUSINESS, CITES INABILITY TO FORECAST PRICES
Median home price: $272,401
Project home price increase: 5.5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Projected increase in home sales: 14.8{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Combined sales and price growth: 20.4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
5. Columbus, Ohio
Scioto Mile Park and skyline, Downtown Columbus, Ohio, USA. (Photo by: Jumping Rocks/Universal Images Group via Getty Images) ((Photo by: Jumping Rocks/Universal Images Group via Getty Images) / Getty Images)
Median home price: $298,523
Project home price increase: 6.3{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Projected increase in home sales: 13.7{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Combined sales and price growth: 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
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Rounding out the list at number six of the top ten housing markets was the Providence-Warwick, Rhode Island, market, while the Greenville-Anderson-Mauldin, South Carolina, area ranked number seven.
Washington state’s Seattle-Tacoma-Bellevue market ranked eighth, followed by Worcester, Massachusetts, at number nine on the list. Coming in at the tenth spot was the Tampa-St. Petersburg-Clearwater market in Florida.