Home sales across the top 10 markets are expected to grow by 5.2% year-over-year in 2022, whereas national homes sales are projected to experience a decline in sales.
In the top 10 markets, about 23% of housing inventory is affordable at the median income level, compared to just 17% of affordable homes nationally.
“As many households keep a close watch on their spending, we expect these top housing markets to be in relatively high demand,” Hale said. “We’ve seen lower price increases, more general affordability and more use of government-backed mortgage products for veterans, first-time and minority buyers in these top markets, providing opportunities for all home buyers to stretch their homebuying dollars.
On average, these midsize metros employ a higher proportion of workers in manufacturing, government, education and health care jobs relative to the 100 largest U.S. metro areas, while jobs in tech, professional services, information technology and leisure and hospitality are less common in these areas.
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