A booming job market and relatively low cost of living make these cities among the top housing spots for 2025, according to the National Association of Realtors. Here are the top ten picks:
Phoenix-Mesa-Chandler, Arizona tops the list with a 12% growth in job market since 2019. The average home value sits at $414,977. San Antonio in Texas saw the second-best job market with 10.7% growth and an average home price of $250,834.
Knoxville, Tennessee has seen strong migration rates, nearly 50%, choosing to buy a home. Indianapolis, Indiana is another southern city on the list, with nearly 42% of housing stock priced below $236,000. Charlotte, North Carolina-South Carolina boasts an average interest rate of 7 percent and aging homes expected to ensure sustained demand for housing.
Other top choices include Grand Rapids, Michigan, which offers a ‘unique combination of affordability and promising long-term prospects’; Boston-Cambridge-Newton, Massachusetts-New Hampshire; Greenville-Anderson, South Carolina; Kansas City, Missouri-Kansas; and Hartford, Connecticut. With lower mortgage rates and increased construction projects, inventory for homes is expected to improve from these cities.
While housing shortages remain a challenge, the NAR believes that affordability and favorable financing environments will attract more homebuyers in 2025. The report predicts that existing-home sales will reach 4.5 million by next year, with mortgage rates expected to stabilize at around six percent.
Source: https://www.dailymail.co.uk/news/article-14217669/jobs-booming-housing-market-2025-real-estate.html