While the term "hottest" may no longer mean desperate buyers bidding thousands over asking prices and waiving inspections, it does mean returning to the basics of healthy demand, supply and financing options.GETTY IMAGES

U.S. News reports, "now that the demand for housing is showing renewed signs of life amid lower mortgage ratesdeclining inflation and a reduced risk of recession, it’s certainly an opportune time to analyze which markets are the hottest across the country. While the term "hottest" may no longer mean desperate buyers bidding thousands over asking prices and waiving inspections, it does mean returning to the basics of healthy demand, supply and financing options.

Because the U.S. News Housing Market Index incorporates so many varied data points, it provides a simple and comprehensive way to rank the covered metropolitan statistical areas (MSAs) from shivering to scorching on a scale of 1-100. Designed to work on desktops and laptops but not on tablets and phones, this interactive platform provides a data-driven overview of the housing market nationwide. Although this particular ranking leverages data from December 2022, the index is regularly updated toward the end of each calendar month.

Key Findings:

Hottest Markets Overall

With regional Housing Market Index totals ranging up to 71.7 versus a national value of 64.4, the following six MSAs are the hottest housing markets ranked from first to fifth, with the third highest a tie between Austin and Durham:

  • Raleigh: 71.7
  • Denver: 67.5
  • (Tie) Austin: 67.3
  • (Tie) Durham: 67.3
  • Phoenix: 66.9
  • Richmond: 66.8

Besides benefitting from huge amounts of interest due to the combination of record-low mortgage rates and the desire for more living space during the COVID-19 pandemic, these markets have managed to hold onto their popularity even as workers have returned to offices and lending rates have trended up. Each MSA also offers the lure of big-city amenities without the disadvantages of the largest cities such as New YorkLos Angeles or Chicago."

Source: U.S. News

Written by: Patrick S. Duffy

Published: February 14, 2023

Posted by Grossman & Jones Group on


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