Affordable Inland Metros Poised for Most Growth in 2020

December 13, 2019

In search of affordability, some consumers are showing a willingness to leave urban life behind. Some of the hottest housing markets are mid-range, inland markets, such as Boise, Idaho; McAllen, Texas; and Tucson, Ariz.

Nine out of 10 of the markets projected to show the most growth in 2020 are not on the coast, according to realtor.com®. That marks a notable change from last year, when four out of 10 markets were on or near the ocean.

Home sales and prices are projected to rise 2.4% and 3.1%, respectively, in the 10 hottest markets next year. For comparison, home sales and prices nationwide are projected to decrease 1.8% and 0.8%, respectively, in 2020.

The cities that top realtor.com®’s list this year have sufficient inventory—particularly at entry-level price points—and offer greater housing affordability that is attracting an influx of new residents. Realtor.com® cites the following as the top 10 markets for 2020:

  1. Boise, Idaho
  2. McAllen-Edinburg-Mission, Texas
  3. Tucson, Ariz.
  4. Chattanooga, Tenn.
  5. Columbia, S.C.
  6. Rochester, N.Y.
  7. Colorado Springs, Colo.
  8. Winston-Salem, N.C.
  9. Charleston-North Charleston, S.C.
  10. Memphis, Tenn.

“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,” says George Ratiu, senior economist, realtor.com®. “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.”

realtor.com markets table. Visit source link at the end of this article for more information.

© realtor.com

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