Home to the University of Colorado’s flagship campus, Boulder ranks third-best for housing market growth and stability. Local oil and gas reserves help support the local economy, including the recent discovery of one of the largest U.S. Located in West Texas, the Midland metro area saw home prices rise 255.5% between 19, more than 91% of metro areas in our study. But home prices aren’t the only thing growing: The population has nearly doubled in the last 20 years, in part thanks to the presence of large tech companies - including Apple, Amazon and Tesla - supporting the local economy. Between 19, home prices increased by 353.92%, the most cumulative growth in our study, without much downside. 1 overall, thanks in large part to home values that have skyrocketed in the last 25 years. The Austin-Round Rock-Georgetown metro area ranks No. Neither state made an appearance in the top 100.īest Housing Markets for Growth and Stability Thirteen out of the 20 worst housing markets for growth and stability are located in Michigan or Ohio. Cities in Michigan and Ohio rank poorly.All but one of those metro areas saw above-average growth in home prices between 19. Five other metro areas in the Lone Star State rank among the top 10 markets for growth and stability, and 14 of the top 25. Austin-Round Rock-Georgetown isn’t the only Texas metro area with a strong housing market. Across the 400 metro areas we considered for our analysis, home prices increased an average of 154.46% over the 25-year window, compared to an 80% cumulative inflation rate over the same time period. Austin-Round Rock-Georgetown home prices have risen 354% since 1998 – more than any other metro area in the nation. Austin takes the title for the best housing market for growth and stability.For details on our data sources and how we determined rankings, read the Data and Methodology section below. We compared home value data for 400 metropolitan areas between 19, calculating cumulative increases during that time, as well as the frequency of significant drops in value. To help homebuyers navigate the recent turbulence, SmartAsset set out to identify the best and worst housing markets for growth and stability. As a result, home prices have declined from recent heights. Mortgage rates have steadily increased since the Federal Reserve started hiking interest rates in March 2022 to combat inflation. Gone are the days of a sub-3% mortgage, commonplace during the housing market boom of the COVID-19 pandemic.
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