If you plan on buying in the Carolinas or Tennessee in the upcoming year, you'll be competing in the hottest housing markets in the U.S., according to a new realtor.com® report.
Credit: realtor.com®
- Boise, Idaho
- McAllen-Edinburg-Mission, Texas
- Tucson, Ariz.
- Chattanooga, Tenn.
- Columbia, S.C.
- Rochester, N.Y.
- Colorado Springs, Colo.
- Winston-Salem, N.C.
- Charleston-North Charleston, S.C.
- Memphis, Tenn.
In the ranking, North Carolina, South Carolina and Tennessee claim five of the top 10 spots. In 2020, the hottest housing markets share specific traits, realtor.com researchers say: demand from neighboring regions, and demographically-driven newcomers. In Chattanooga, for instance, demand from Nashville's spilling in, while in Charleston, demand's driven from retirees.
"Many of the markets on this year's list are late bloomers in the current housing cycle, meaning they still have plenty of inventory and prices are within reach—a rare combination in recent years," explains George Ratiu, realtor.com senior economist.
"Additionally, a number of the top markets in 2020 are welcoming an influx of buyers from nearby large cities that have become crowded, expensive and lack sufficient inventory," Ratiu says. "Half of this year's top 10 are millennial markets and the other half are being driven by retirees and mid-lifers leaving more expensive coastal cities."
For more information, please visit www.realtor.com.
This is definitely very helpful information for me who is looking to diversify my business portfolio and beef up my investment properties. Thank you for the information.
hi – we’ve done it – Kept Atlanta as the Secret of the South ! Great Jobs, Good Wages, Wonderful People, Awesome Topography, working on the K-12 Education and Transportation Infrastructure systems – making good progress. We have enough people so go to the other places , though if you do need to relocate here or are moving away – Call me Jim Kurtz @ – 770-662-2106
So happy to live in number 8 choice. Awesome sweet spot for 2020 market, keep the market rolling! And God bless you.
What is it that is sending folks to Rochester, NY? That is my old hometown area…. It used to be Kodak, IBM, What draws folks today?