*article courtesy of AZ BigMedia
The hottest housing market of 2022 will be Tampa, according to a new Zillow® analysis. Rounding out the top five hottest housing markets are Jacksonville, Raleigh, San Antonio and Charlotte in what is anticipated to be another hot year for housing across the Sun Belt.
Zillow economists expect the housing market to back off just a bit from a record-breaking pace in 2021, but home shoppers looking in the 10 hottest markets are likely to face strong competition, rising prices and limited inventory that will be snatched off the market quickly. Tampa tops Zillow’s list of hottest housing markets due to a combination of strong forecasted home value growth, a thriving job market, relatively scarce and fast-moving inventory, and demographics that indicate a good number of potential buyers.
“Home buyers are attracted to markets in the Sun Belt that offer relative affordability, fast-growing economies and weather that allows them to enjoy the outdoors year-round,” says Zillow economist Alexandra Lee. “Across the board, sellers will remain in the driver’s seat, but especially so in the hottest markets. Buyers should be ready for strong competition for homes, which means bidding wars and homes flying off the market only days after they are listed.”
Zillow’s 10 hottest housing markets of 2022:
- San Antonio
With the huge millennial generation’s pent-up desire to move now being fulfilled as it ages into its peak home-buying years, together with the wave of baby boomers entering retirement amid the “Great Resignation,” Zillow economists expect incredibly strong price appreciation and sales volume to continue into next year — forecasting 14.3% national home value growth through November 2022. Each of the top 10 hottest metros are anticipated to exceed that, with Tampa home values predicted to grow 24.6% during that time.