What U.S. cities will see home prices and/or sales rise? Realtor.com feels optimistic about smaller fringe metros, with few Fla. cities near the top of its ranking.
SANTA CLARA, Calif. – Mid-sized markets with local industries tied to manufacturing, education, healthcare and government with do best in 2023 for home prices and sales, according to Realtor.com’s 2023 Top Housing Markets forecast.
They’re poised to grow in homes sales and listing prices, and “up to this point have seen lower price increases (and) a relatively smaller affordability crunch than other markets across the U.S.”
In the list of top 100 markets, many Florida cities fall below the 50% mark, and none made the top 10 for an expected robust real estate market next year.
The top 10 2023 U.S. real estate markets
Mainly concentrated in mid-size markets east of the Mississippi are
- Hartford-West Hartford, Conn.
- El Paso, Texas
- Louisville, Ky.
- Worcester, Mass.
- Buffalo-Cheektowaga N.Y.
- Augusta-Richmond County, Ga.
- Grand Rapids-Wyoming, Mich.
- Columbia, S.C.
- Chattanooga, Tenn.
- Toledo, Ohio
“As many households keep a close watch on their spending, we expect these top housing markets to be in relatively high demand,” says Realtor.com Chief Economist Danielle Hale. “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 homebuyers to stretch their homebuying dollars. Many of these areas flew under the radar in the pandemic frenzy, and are now well-positioned to bubble up with solid job prospects without the big-city price tag.”
Realtor.com’s Florida market projections for 2023
Hartford-West Hartford, Conn, topped the list with a projected 6.5% increase in home sales and a price increase of 8.5%. At No. 100 and the bottom of the list, Oxnard-Thousand Oaks-Ventura, Calif. is projected to see a 29.1% drop in home sales and a 1.7% rise in home prices.
- 67. Jacksonville: Sales down 3.0%, prices up 4.6%
- 70. Miami-Fort Lauderdale-West Palm Beach: Sales down 2.0%, prices up 3.4%
- 77. Deltona-Daytona Beach-Ormond Beach: Sales down 7.9%, prices up 4.8%
- 78. Lakeland-Winter Haven: Sales down 5.0%, prices up 1.6%
- 84. Orlando-Kissimmee-Sanford: Sales down 8.5%, prices up 2.9%
- 86. Cape Coral-Fort Myers: Sales down 5.9%, prices up 0.1%
- 93. Tampa-St. Petersburg-Clearwater: Sales down 15.6%, prices up 3.9%
- 95. Palm Bay-Melbourne-Titusville: Sales down 18.3%, prices up 2.8%
- 98. North Port-Sarasota-Bradenton: Sales down 28.7%, prices up 3.2%
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Author: kerrys