Best Real Estate Markets In 2022

Regardless of whether you’re buying a house to live in or just an investment property, real estate has a pattern that you could easily recognize. However, with the advent of 2022, all of these patterns went down the drain.

Since the COVID pandemic hit the world two years ago, the world started working from home and realized that houses could be looked at differently. People started seeking houses that were quieter, neighborhoods that were livelier, and windows that had views over any apartment or house in an area close to their place of work.

Another reason for the drastic change in real estate markets is the fact that the world is still recovering from the economic disruption caused by COVID over the last two years. People are looking for places that are a little less expensive than the previously desired ones. Moreover, new buyers in this market are also looking for neighborhoods that have more avenues that provide for a healthier, more outdoorsy lifestyle.

Speaking of the finances, the year 2022 has seen an increase in the prices and consequently, the mortgages and interest rates. However, the demand for new houses is still rising. This is due to the more elder, settled people looking for newer places and the first-time homebuyers being ready to pay top dollar for their new homes.

While all of this is great in terms of people figuring out the kind of life they want, it has changed the dynamics of selling and buying houses to a great extent. Due to this, the best real estate markets in the United States Of America are much different than the ones in the years prior. If you’re looking to buy a new place in the year 2022, here are a few markets that are worth looking into.

Boise, Idaho

Boise makes a very strong case when it comes to the real estate market it offers. It has not only been one of the best markets throughout the years but has also seen skyrocketing appreciation – up to 4.53% in the last quarter of 2021. However, that’s not all that this market has to offer.

Even through the ongoing pandemic, Boise has managed to keep a consistently fierce real estate market throughout the metropolitan area. That, combined with the legendary 30-year fixed mortgage rates, known to be extremely low, make this an investor’s paradise.

However, this strong real estate market is because of the rising population and relatively slow real estate development. This has also caused the median house prices in places like Ada County to go above $500,000. You could consider making the most of the predicted 20% appreciation based on the quarterly appreciation mentioned above!

City Snapshot

  • A robust job market, with 2-3 times more growth than the national average
  • A low unemployment rate of 3.5%
  • Low cost of entrepreneurship

Also See: Moving to Boise Idaho

Houston, Texas

The home to the biggest oil and gas industries in the US has now moved on to make its name in many more industries. In fact, Houston has become a gold mine of tech, healthcare, and IT jobs. In fact, more than 53 Fortune 1000 companies and more Fortune 500 call Houston home. This is more than any other place in the US, except for NYC. Topped with the fact that Houston is home to more than seven million Texans, it becomes one of the most concentrated cities in the US.

These factors, added with the still-growing job market and the consequent influx of people moving here, put the median home value in Houston around $412,000. These factors also make Houston a great market for investors since a lot of people move here for new jobs as well as education. Regardless of whether you’re looking into this market as an investor or a home-buyer, remember that the houses in this market move very fast. So, you might want to catch a property as soon as it appears on the market.

City Snapshot

  • Houses cost 5%-20% less than the current fair market value
  • 1-year appreciation prediction in Houston is 10%-15%
  • Low unemployment rate
  • One of the top cities in the US for job creation

Read Also: Moving to Houston

Atlanta, Georgia

The capital city of Georgia is also the state’s economic center. This means that the city of Atlanta attracts a heavy crowd that moves here for employment opportunities. These people that move to the city are pretty much the biggest drivers of the real estate market in Atlanta. Hence, Atlanta is one of the best investor’s real estate markets in the country.

In fact, the city of Atlanta has seen a boom in its economy ever since it recovered from the recession in 2008 and has managed to keep the graph pointing upwards through the pandemic. Good evidence to that statement would be the fact that more than 500 people move to this city every day.

Due to this, Atlanta is one of the biggest and most active rental markets in the US. Moreover, with some of the properties starting as low as $70,000, it’s considerably easy to get into the real estate market here, making it one of the easiest, yet most flourishing, real estate markets for you to invest in!

City Snapshot

  • One of the top rental markets in the US
  • The annual property appreciation forecast is 10%-15%
  • 2 million more people are predicted to move here in the coming decade

Orlando, Florida

The city of Orlando managed to keep its economy on the up-and-up through mostly anything. The biggest factor for this was the booming entertainment and tourism industry of this beach city. Due to this unusual economy, the real estate market also became interesting and it manages to stay that way.

Regardless of whether you’re in the market for a home, for an investment property, or a holiday house, the real estate market in Orlando has a fairly high ROI. In fact, the cost of properties in Orlando has appreciated by as much as 43.7% over the past 10 years. The consistently positive trends of this real estate market can also be traced back to the ever-increasing job opportunities, making it a hot market for renters as well.

City Snapshot

  • Over 60% of the residents in Orlando live on rent
  • Boasts of high economic growth
  • Among the best markets for long-term investment in real estate for the past decade

Las Vegas, Nevada

The party city in the middle of the desert is one more city on our list that is carved out for the investors, after its comeback from the recession. While the comeback isn’t as impressive as some of the best cities in the US, it’s enough to keep the investors hooked.

Throughout the pandemic, Las Vegas managed to see a lot of new businesses opening up. Its overall business-friendly culture has brought in many people from across the country and helped the real estate industry boom as well. In fact, Las Vegas hoes have seen a total of 13% increase in their year-over-year value. This, along with the fact that there are more than 2 million residents in Las Vegas, makes it a great place for real estate investors. You may also see our blog on Guide to move to Las Vegas.

City Snapshot

  • Leading financial, commercial, and cultural center for Nevada
  • Has a diversified economy with the biggest drivers being healthcare, tech, gaming, and convention industries
  • The job market has significantly increased the influx of migrants, consequently increasing rents

See Also: Moving From Chicago To Las Vegas

Spokane, Washington

Spokane has seen exponential growth in its real estate market, especially when compared to its size. A true example of the changed real estate market post-pandemic, Spokane is seeing some of the fastest-growing housing markets while still having affordable prices. In fact, for the first time in many years, the real estate market in Spokane overtook that in Seattle. However, this is not just because of how beautiful the city is.

While the beauty and quality of life offered by about 87 parks, 6 aquatic centers and many trails and treks is not negligible, one of the bigger factors for the growth of Spokane’s real estate market is the diversified, yet strong, economy. There are jobs in this city that belong to fields like agriculture, forestry, mining, tech, biotech, and education. All of these factors, combined with a median home cost of $265,000, make Spokane an amazing real estate market, regardless of whether you want to move or just invest.

City Snapshot

  • A huge economic and cultural center in Washington State
  • The city is surrounded by nature
  • The entire city Is very walkable

Tampa, Florida

With a population of more than four million people, the city of Tampa is more than just a tourist spot. In fact, the presence of a large tourism industry has helped its economy become one that is very favored by the people thinking of moving here.

However, the tourism industry is not the only reason for the growth of this city. There are 4 Fortune 500 companies headquartered in Tampa, with a lot more following suit. Not just that, the real estate market is a piece of cake, too. The real estate market has seen an overall appreciation of 5.3% in the last year, and there is a prediction for heavy growth in the coming years. However, the average home prices are still pretty affordable. In fact, the median house costs in Tampa is $251,789.

City Snapshot

  • Rapidly-growing costs of residential properties
  • Low cost of living
  • Impeccable healthcare, education, and transport facilities

Chicago, Illinois

It’s no wonder that the third-largest metropolitan area in the US has made this list. The only difference is Chicago is an amazing place for you to invest since it’s a hotter market for renters and is currently recovering from the economic downfall due to the pandemic.

Chicago is home to more than 30 Fortune 500 companies and a lot bigger, private employers. Not just that, it has a very robust blue-collar job market. Due to all of these factors, while the buying price of real estate is relatively affordable, the average rent is above the national average. However, the city still has more than 50% of its residents renting their homes. The number of renters is also constantly high, making this a great city for you to invest in real estate.

City Snapshot

  • Single-family homes have great ROI
  • On the UBS list of the world’s richest cities
  • Strong economic growth

See Also: Moving to Chicago Illinois

Austin, Texas

The housing market in Austin has gained a lot of steam in the last ten years. The property values have been consistently doubling along with their demand. While the market here is not as big as Dallas or San Antonio, the bubbling job opportunities, especially in the tech industries, have made it a pretty sweet spot for home buyers.

A majority of the real estate customers coming to Austin are young professionals. Thanks to the low unemployment and the relatively affordable real estate, this trend is predicted to be going for a few more years. Another factor that brings Austin on this list is the opportunity it provides for a good social life as well. However, there’s a distinct scarcity of homes that are being sold. So, the prices might rise now and then, but the houses will definitely be picked off of the market as soon as they appear. Good luck!

City Snapshot

  • Strong economy
  • One of the best seller’s markets for real estate in the US
  • A low unemployment rate of 2.7%
  • Rising population and consequently rising rents

Raleigh, North Carolina

Raleigh is a city that’s still growing in terms of economy and quality of life. It’s one of those cities with great prospects but largely invisible to the homebuyer’s eyes. Recent forecasts also show that the Raleigh housing prices will keep on increasing in 2022. However, the bigger reasons for this city becoming a people’s favorite are the metrics that define the quality of life.

The city has a lot of outdoor avenues, great nightlife, and a tight-knit community on top of the growing job market. Raleigh is also amazing for students because of the high number of educational institutes and the high rental properties.

City Snapshot

  • About 43% of residents are renters
  • Sees some of the lowest unemployment rates in the US
  • Has the most job opportunities in the IT sector, only second to Austin, Texas.

Seattle, Washington

Seattle is one of the few cities that has constantly made its name on the list of the best places in terms of buying a house. In fact, it was ranked 10th in the ‘overall living prospects’  in the list of ‘Emerging Trends In Real Estate 2020’. This is because of the fact that Seattle offers strong economic prospects as well as a robust labor market. One huge factor for these better-than-great stats is the rapidly growing tech and real estate market.

Companies like Google, Facebook, and Microsoft are on a hiring spree in this city. In fact, this city has seen around 50% growth over the last five years. Add that with the robust real estate market, and you have a definite contender in this list.

City Snapshot

  • The cost of living is high, but a strong economy makes living here feasible and even profitable
  • The average value of homes in Seattle is going down at a very slow rate: a good indicator of a recovering economy

Conclusion

Regardless of which part of the country you look into, almost all the real estate markets will show you a drastic change in the dynamics of the desirability of certain properties. While this change does take you a little way off of cities like New York and New Jersey, it does take you to places that are much more affordable, healthier, and more fulfilling than them.

This trend is also concentrating on places that were previously not on the radar, meaning this might be your only chance at grabbing a piece of land in some places that might never see prices that are this low, again. So, we suggest you make the most of this change and invest in the best real estate market in 2022!

FAQs

Are House Sales Going Down In 2022?

According to a report published by Forbes, it is predicted that the overall sales of homes will take a 2% dip in 2022. The biggest culprit for this phenomenon would be the rising mortgage rates.

What Is The Hottest Housing Market In The US?

According to NationalMortgageNews, the hottest property markets are seen in cities like Phoenix (Arizona), Charlotte (North Carolina), and Atlanta (Georgia).

Where Is The Fastest Growing Housing Market In The US?

The fastest-growing real estate market, by means of predictions, is in Salt Lake City, Utah.

Also See: List of Top National Moving Companies in the USA | Moving To Salt Lake City

Written by


Rostislav Shetman is the founder of 9Kilo Moving. He has been in the moving and relocation industry for more than 25 years, making him an expert in his field. Rostislav started as a helper, dispatcher and driver and has worked his way up to owning his own company. He takes great pride in his work and enjoys helping people relocate across the United States of America. When he's not working, Rostislav enjoys spending time with his family and friends. They are the light of his life and bring him happiness every day.