What is keeping you in California? 10 Housing Market "Hidden Gems"

December 16,2021 | Posted By Jeff and Cheryl Fox in Real Estate

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Top 10 Housing Market “Hidden Gems” in 2022. NAR (National Association of Realtors) identified 10 housing markets as “hidden gems” that are expected to experience stronger price appreciation relative to other markets in 2022.
n alphabetical order, the markets are as follows:
Dallas-Fort Worth, Texas
Daphne-Fairhope-Farley, Alabama
Fayetteville-Springdale-Rogers, Arkansas-Missouri
Huntsville, Alabama
Knoxville, Tennessee
Palm Bay-Melbourne-Titusville, Florida
Pensacola-Ferry Pass-Brent, Florida
San Antonio-New Braunfels, Texas
Spartanburg, South Carolina
Tucson, Arizona
“The housing sector performed spectacularly in 2021 in many markets, with huge gains achieved in places like Austin, Boise, and Naples,” Yun said. “Several markets did reasonably well in 2021, but not as strong as the underlying fundamentals suggested. Therefore, in 2022, these ‘hidden gem’ markets have more room for growth.” NAR considered a market a hidden gem based on two categories: 1) if the market’s ratio of median home price to median family income is in the lower half of the 379 metro areas analyzed and 2) if the following seven indicators reflecting the strength of housing demand for that market are in the upper half of metro areas – wage growth, job growth, the ratio of the change in population to the sum of housing permits, population growth, net domestic migration, percentage of the population ages 25 to 44, and the percentage of households with broadband service. NAR’s top 10 list only includes metro areas with populations of at least 200,000. To view NAR’s Top 10 Housing Market Hidden Gems report, visit https://www.nar.realtor/research-and-statistics/research-reports/2022-housing-market-hidden-gems.

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