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Ten Housing Markets That are Ready to Take Off

The National Association of Realtors (NAR) released a report detailing its top 10 markets to watch over the coming three to five years. These top ten markets include: 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; and Tampa-St. Petersburg, Florida.

Some markets are clearly positioned for exceptional longer-term performance due to their relative housing affordability combined with solid local economic expansion,” Lawrence Yun, NARs Chief Economist, said. Drawing new residents from other states will also further stimulate housing demand in these markets, but this will create upward price pressures as well, especially if demand is not met by increasing supply.

The NAR based its findings on data by a plethora of factors, which included domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, and thats just to name a few.

NAR President and broker at Malta & Co., Inc. in San Francisco, Vince Malta, gave potential homebuyers the proverbial go-ahead when choosing among cities on this list. 

Potential buyers in these 10 markets will find conditions especially favorable to purchase a home going into the next decade, Malta said. 

Another factor that affected these findings include strong job growth in these areas, which drives up prices in these markets. 

The dream of owning a home appears even more attainable for those who move to or are currently living in these markets,” Malta said. 

The NAR said payroll employment rose 2.5% annually over the past three years in these markets—higher than the national rate of 1.6%. Job growth in Ogden, Las Vegas, Dallas, and Raleigh grew nearly 3%. 

Movers accounted for 21% of the total population in Colorado Spring and 17% in Fort Collins. Movers coming to Las Vegas were 16% of the population. Eleven percent of the people who moved to Tampa were older than 65, while 54% of those who moved to Durham where between the ages of 18-34. 

About Author: Andy Beth Miller

Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad.
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