Hottest Housing Markets 2022 Salt Lake City, UT. This year's hottest housing market is expected to be Salt Lake City. ... Boise, ID. ... Spokane-Spokane Valley, Washington. ... Indianapolis, Indiana. ... Columbus, Ohio. ... Providence-Warwick, R.I.-Massachusetts. ... Greenville-Anderson-Mauldin, S.C. ... Seattle-Tacoma-Bellevue, Washington. More items... •
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Both buyers and sellers can anticipate a frenzy of activity this year in the housing market. In this article, we are going to list the top 10 hottest housing markets in 2022. These leading hot housing markets demonstrate the broad trends that served as the basis for the national prediction. The rankings are based on the combined yearly percentage growth in both home sales and prices expected in 2022 among the top 100 largest markets in the country per Realtor.com’s metro-level housing forecast.
Mountain West, Midwest, and housing markets outside of the Boston area topping their list for 2022's hottest real estate markets. These markets have thriving local economies with low unemployment rates. They've also had significant employment growth since last year. Tech employment plays a role since many customers shopping for real estate in these locations come from tech hubs, where real estate is much more competitive, expensive, and sometimes feels out of reach.
Hottest Housing Markets 2022
Here is the list based on the Sales % Change YoY 2022 (projected) and Price % Change YoY 2022 (projected).
1. Salt Lake City, UT
This year's hottest housing market is expected to be Salt Lake City. Since the epidemic began, remote employment has brought Californians and Coloradans searching for inexpensive housing, low costs of living, and decent schools. Lehi, Utah, is 25 miles from Salt Lake and home to SanDisk, Adobe, and eBay (a booming tech industry).
Median home price: $564,062
Home price change: +8.5 percent
Sales change: +15.2 percent
Combined sales and price growth: +23.7 percent
2. Boise, ID
Realtor.com® ranks Boise, Idaho, second for 2022. Boise has been a relocation target for California migrants due to distant employment and outdoor activities including hiking, skiing, and snowshoeing. Micron Technology, Albertsons, and Boise State University are major employers.
Median home price: $503,959
Home price change: +7.9 percent
Sales change: +12.9 percent
Combined sales and price growth: +20.8 percent
3. Spokane-Spokane Valley, Washington
Spokane, near Idaho, ranks as the third hottest housing market in 2022. Spokane River runs through the city, so people may enjoy waterfront activities. Less rain and more sun than Seattle mean warmer months and winter pleasure. Spokane provides homeowners the conveniences of a major city and a lower cost of living, including more affordable housing than Seattle, Portland, and Tacoma. It features well-ranked public schools, including Libby Center and Wilson Elementary, making it a desirable alternative for young families.
Median home price: $419,803
Home price change: +7.7 percent
Sales change: +12.8 percent
Combined sales and price growth: +20.5 percent
4. Indianapolis, Indiana
Indianapolis, the 15th largest U.S. city, is No. 4 on Realtor.com's list of the hottest housing markets in 2022. The market has an 8% cheaper cost of living than the national average, including low taxes, and you can go everywhere in the city in an hour. It's home to the Indianapolis Colts, the Indianapolis 500, NCAA tournaments, and Indiana-Purdue and Butler colleges. Indianapolis' big houses and cheap pricing attract buyers and investors to Carmel, Zionsville, and Noblesville.
Median home price: $272,401
Home price change: +5.5 percent
Sales change: +14.8 percent
Combined sales and price growth: +20.4 percent
5. Columbus, Ohio
Columbus is Ohio's capital and fastest-growing city. It ranks as the fifth hottest housing market in 2022. The market is luring transplants from the West, a tendency encouraged by remote employment. People are lured to Columbus' thriving employment market, inexpensive cost of living, and top-rated schools like New Albany High. Victoria's Secret and Bath & Body Works' parent business, L Brands, and Nationwide Insurance are major employers. Locals enjoy the Ohio State Buckeyes and water sports at Hoover Reservoir and Alum Creek.
Median home price: $298,523
Home price change: +6.3 percent
Sales change: +13.7 percent
Combined sales and price growth: +20.0 percent
6. Providence-Warwick, R.I.-Massachusetts
Providence ranks sixth this year. Providence has eight hospitals and institutions, including Ivy League Brown. Classical High School is one of Providence's best public schools. Residents love the city's central position and easy access to Boston and New York. Providence has outstanding restaurants, nightlife, and art, including WaterFire.
Median home price: $419,813
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Greenville, (No. 7 hottest housing market in 2022), provides low income and property taxes, small-town charm, beautiful weather, and access to the great outdoors. Falls Park includes restaurants, breweries, shopping, and views of Reedy River Falls from the Liberty Bridge in downtown Greenville. Greenville is near the Smokies, Hilton Head, and Myrtle Beach. Despite new buildings, housing costs remain affordable. Greenville's burgeoning economy includes BMW, Michelin, and public, charter, private, and religious schools.
Median home price: $305,078
Home price change: +5.7 percent
Sales change: +11.4 percent
Combined sales and price growth: +17.1 percent
8. Seattle-Tacoma-Bellevue, Washington
Seattle has experienced an inflow of Californian homebuyers for the second year in a row. Many new people have moved to Seattle during the epidemic for high-paying jobs like Amazon, Starbucks, and Expedia. The “Emerald City” offers beautiful weather and easy access to nature, including lakes, islands, Puget Sound, ski resorts, and wine regions. While Seattle's suburbs attract purchasers seeking more room, the region's schools are excellent. Plus, Seattle has top-ranked UW.
Median home price: $666,754
Home price change: +7.5 percent
Sales change: +9.6 percent
Combined sales and price growth: +17.1 percent
9. Worcester, Mass.-Connecticut
Worcester, the second biggest city in Massachusetts, has the No. 7 Hottest ZIP Code in 2021. (ZIP 01757). Worcester has convenient access to interstate roads through the Mass Pike and a commuter train to Boston, as well as inexpensive housing, top-rated schools, and outdoor access. The Worcester Red Sox's Polar Park is also redeveloping the city. Worcester's robust employment market and lively arts scene attract young purchasers, especially Clark and Holy Cross grads.
Median home price: $397,188
Home price change: +8.2 percent
Sales change: +8.4 percent
Combined sales and price growth: +16.6 percent
10. Tampa-St. Petersburg-Clearwater, Florida
Tampa ranks as the 10th hottest housing market in 2022. Tampa's beaches, weather, and year-round living make it a popular vacation and retirement destination. Tampa boasts strong schools, a low cost of living, no state income taxes, affordable housing, and new building within commuting distance of downtown. As remote employment increases during the epidemic, buyers from New York and Chicago flock to Tampa.
Median home price: $335,814
Home price change: +6.8 percent
Sales change: +9.6 percent
Combined sales and price growth: +16.4 percent
What Makes Them 2022's Hottest Housing Markets
These hot housing markets have a significantly larger percentage of occupations in Science, Technology, Engineering, and Mathematics (STEM).
Residents are looking for remote work from here.
Despite the fact that several of these top locations have robust local economies and thriving tech scenes, evidence shows that some employees in these places may be seeking the best of both worlds.
These hot housing markets have a somewhat greater population percentage of younger adults, aged 25-34, on average.
These people are important for the housing market because they have a high rate of household formation and homeownership—a force that translates into housing demand wherever they go.
Younger people make up significantly higher proportions of the populations in Seattle, Salt Lake City, and Columbus.
Older households are important in hot housing markets such as Tampa, Greenville, Providence, and Spokane.
These areas have seen recent household growth that outpaces the 100-market average (1.8% vs. 1.4%) and this advantage is projected to continue in 2022.
The strong local economies of these areas attract outsiders.
In the previous year, home shoppers from the Big Apple (New York metro region) were among the top ten sources of traffic in each of these metros.
20 Hottest Real Estate Markets 2022 (Updated June)
The Market Hotness rankings at Realtor.com for June 2022 include two factors of the housing market: 1) market demand, as measured by the number of unique visitors per property on Realtor.com; and 2) market speed, as measured by the number of days a listing is live on Realtor.com.
In June, Concord, New Hampshire took the top spot on the list of the hottest housing markets, displacing adjacent Manchester-Nashua, which held the top spot for nine of the previous twelve months. Since March 2022, this region has been among the top five hottest markets, but it has never held the top rank in the data's existence. Manchester entered the top 20 for the first time in June 2018 and has consistently been there since early 2021.
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These Hottest Housing Markets are places where properties sell quickly and there are a lot of potential buyers looking at each listing. When compared to the national average, Realtor.com's 20 Hottest Housing Markets attracted 1.5 to 3.2 times the number of views per house for sale. Homes in these markets are selling up to 20 days faster than the average property in the United States. The states featured in their top 20 list this month are Connecticut, Indiana, Kansas, Massachusetts, Maine, North Carolina, New York, New Hampshire, Ohio, Vermont, and Wisconsin.
This month there are no West region hot markets, compared to the average of 7 from June 2017-2021. Western markets tend to fade in summer, but they've never been absent from the list. 19 of the 20 hot markets are in the Northeast and Midwest, where prices are lower. Overall, 16 of June’s hottest markets had median listing prices below the national median.
The average listing price for the 20 hottest markets was $359,000 in June 2022, 20.3% lower than the national median, the biggest gap between the metrics since August 2021. 11 states made Realtor.com's list of June's 20 hottest property markets as buyers focused on affordable urban areas.
Most of June's hottest housing markets are Midwest and Northeast markets. Hot areas had median listing prices of $359,000 in June, 20.3% below the national median of $450,000. Portland, ME's median home price was $549,000 in June, 22.0% higher than the median US home. End-June 2022 mortgage rates were 279 bps higher than end-June 2021. As borrowing rates rise and inventory shrinks, buyers are focusing on affordability. Active inventory has turned a corner and price growth has slowed, giving buyers hope.
Indiana and Wisconsin tied for most markets with 3 in June. Elkhart-Goshen, Fort Wayne, and Lafayette-West Lafayette are Indiana's 3 least expensive hot markets for June. Topeka, KS, Oshkosh, WI, Racine, WI, La Crosse-Onalaska, WI, and Columbus, OH was also below the national median. Topeka, KS had the lowest median home price in June at $225,000.
The Northeast tied May for most slots on the list with 11 this month. Rochester, NY, and Bangor, ME are two of the Northeast's cheapest metros. Portland, ME, Burlington, VT, and Manchester-Nashua, NH were the Northeast's three priciest hot markets. Burlington, NC was the only Southern market listed.
Hottest Metros Hotness Rank Median Days on Market Days on Market YoY Median Listing Price Concord, NH 1 13 -4 $457,000 Manchester, NH 2 12 2 $478,000 Burlington, VT 3 16 -8 $484,000 Portland, ME 4 20 3 $549,000 Burlington, NC 5 18 -1 $380,000 Rochester, NY 6 12 1 $230,000 La Crosse, WI 7 22 -7 $335,000 Hartford, CT 8 21 -8 $375,000 Oshkosh, WI 9 23 -11 $300,000 Elkhart, IN 10 19 2 $279,000 Worcester, MA 11 16 0 $450,000 Springfield, MA 12 21 -1 $362,000 Columbus, OH 13 17 2 $350,000 Topeka, KS 14 23 9 $225,000 Fort Wayne, IN 15 23 9 $286,000 Claremont, VT 16 26 -17 $399,000 Racine, WI 17 24 -12 $325,000 Lafayette, IN 18 24 4 $289,000 New Haven, CT 19 23 -6 $362,000 Bangor, ME 20 26 0 $254,000
Awaken your dormant DNA ability to attract wealth effortlessly
The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Awaken your dormant DNA ability to attract wealth effortlessly
The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
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