Real Estate Markets That Will Dominate in 2023By RISMedia Staff
Hartford, Connecticut, will be one of the hottest real estate markets in 2023, according to a recent report from Realtor.com.
Realtor.com’s new report examines housing and economic data in the 100 largest metropolitan areas to determine a list of markets where sales and prices are anticipated to continue rising next year. The report found that the markets on the list are midsize metropolitan areas that generally offer lower-priced homes that locals can still afford. All but one market on the list had median prices well under the national median of $417,000 in November because they didn’t experience the huge price spikes seen elsewhere during the pandemic. These markets also tend to have solid economies and are located near big employment centers. Key highlights:
“They are very affordable markets. These are areas where your housing dollars really stretch further,” said Realtor.com Chief Economist Danielle Hale. “These places did not overheat during the [COVID-19] pandemic housing frenzy over the last two years. That puts them on more solid footing. Prices and sales still have more room to grow. They are really outliers, especially when it comes to sales.” “These are the real estate markets that are going to be more active” next year, added Hale. “If you’re a seller, it means you can expect buyers. If you’re a buyer, you can expect competition. And if you’re a homeowner, you can expect prices to rise, which gives you more equity in your home.” For the full report, including the rest of the top 20 cities, click here. |
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