Housing markets that remained strong throughout 2020 in spite of the pandemic are poised to carry that momentum into the new year. According to realtor.com®’s newly-released Top Housing Markets of 2021 list, these areas all have several things in common.
Each of these housing markets are relatively affordable compared to expensive metros like New York and Los Angeles; have an abundance of high-paying tech jobs; and have a larger-than-average share of younger households. Half of the markets are state capitals.
The markets on this list are expected to see the strongest home price and sales growth in the U.S. next year. However, realtor.com cautions young first-time buyers that these areas are likely to see rising prices and heavier competition over the course of 2021.
Realtor.com® projects that home prices across the top 10 markets listed will increase by 6.9 percent and sales will jump by 13.1 percent year-over-year. This figure is significantly higher than the national projection of 5.7 percent price appreciation and 7.0 percent sales growth.
“Sellers will remain in a position of power, but will find themselves on the other side of the bargaining table when buying their next home,” said realtor.com®’s Chief Economist, Danielle Hale.
Here is a graphic, produced by realtor.com®, that illustrates where the top 10 markets on their list are located on a U.S. map:
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To view realtor.com®’s entire list of ranked housing markets and for a full breakdown of their methodology, click here.
This article first appeared on RISMedia’s blog, Housecall.
