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Saturday, June 22, 2024

Wall Avenue Journal/Realtor.com’s Rankings of Fall Rising Housing Markets Index


Beneath is an article from the Wall Avenue Journal with their 2022 rankings of how metro areas throughout America stack up. You may learn the unique article right here

It’s refreshing to see our metro areas North Port-Sarasota-Bradenton rank #4 and Tampa-St. Petersburg-Clearwater rank #11.

Dwelling-buying demand remained sturdy in low-cost cities however rising mortgage charges have made most residence purchases much less reasonably priced, pushing many patrons out of the market. Properties are sitting available on the market longer, and extra sellers are slicing costs.

The WSJ/Realtor.com Rising Housing Markets Index Fall 2022

Metro areas are ranked in response to real-estate market knowledge and financial well being. Rating is as of October 2022.

RANK CHANGE AREA STATE
1 Johnson Metropolis TN
2 Visalia-Porterville CA
3 Elkhart-Goshen IN
4 North Port-Sarasota-Bradenton FL
5 Fort Wayne IN
6 Lafayette-West Lafayette IN
7 Columbia SC
8 Columbia MO
9 Raleigh NC
10 Yuma AZ
11 Tampa-St. Petersburg-Clearwater FL
12 Cape Coral-Fort Myers FL
13 Nashville-Davidson–Murfreesboro–Franklin TN
14 Colorado Springs CO
15 Burlington NC
16 Naples-Immokalee-Marco Island FL
17 Fayetteville-Springdale-Rogers AR-MO
18 Orlando-Kissimmee-Sanford FL
19 Topeka KS
20 Columbus OH
21 Savannah GA
22 Boston-Cambridge-Newton MA-NH
23 Coeur D’Alene ID
24 Hickory-Lenoir-Morganton NC
25 Knoxville TN
26 Port St. Lucie FL
27 Portland-South Portland ME
28 Huntsville AL
29 Manchester-Nashua NH
30 Fresno CA
31 Santa Maria-Santa Barbara CA
32 San Jose-Sunnyvale-Santa Clara CA
33 Boulder CO
34 Springfield MO
35 Bakersfield CA
36 Kingsport-Bristol-Bristol TN-VA
37 Amarillo TX
38 Denver-Aurora-Lakewood CO
39 Billings MT
40 Durham-Chapel Hill NC
41 Santa Cruz-Watsonville CA
42 Sacramento–Roseville–Arden-Arcade CA
43 Grand Junction CO
44 Jefferson Metropolis MO
45 Pensacola-Ferry Move-Brent FL
46 Charlotte-Harmony-Gastonia NC-SC
47 Fort Collins CO
48 San Luis Obispo-Paso Robles-Arroyo Grande CA
49 Wichita Falls TX
50 Las Vegas-Henderson-Paradise NV
51 Oxnard-Thousand Oaks-Ventura CA
52 Louisville/Jefferson County KY-IN
53 Sebastian-Vero Seaside FL
54 Charleston-North Charleston SC
55 Chattanooga TN-GA
56 Worcester MA-CT
57 Joplin MO
58 Elizabethtown-Fort Knox KY
59 Windfall-Warwick RI-MA
60 Vallejo-Fairfield CA
61 Yuba Metropolis CA
62 The Villages FL
63 Salinas CA
64 Wilmington NC
65 Punta Gorda FL
66 Fast Metropolis SD
67 Myrtle Seaside-Conway-North Myrtle Seaside SC-NC
68 Harmony NH
69 Springfield MA
70 Janesville-Beloit WI
71 Waco TX
72 Kahului-Wailuku-Lahaina HI
73 Spokane-Spokane Valley WA
74 Modesto CA
75 Sioux Metropolis IA-NE-SD
76 Stockton-Lodi CA
77 Deltona-Daytona Seaside-Ormond Seaside FL
78 Tyler TX
79 Dallas-Fort Value-Arlington TX
80 Reno NV
81 South Bend-Mishawaka IN-MI
82 Lubbock TX
83 Phoenix-Mesa-Scottsdale AZ
84 Faculty Station-Bryan TX
85 Yakima WA
86 La Crosse-Onalaska WI-MN
87 Lakeland-Winter Haven FL
88 Austin-Spherical Rock TX
89 Evansville IN-KY
90 Norwich-New London CT
91 San Diego-Carlsbad CA
92 Bellingham WA
93 Hilton Head Island-Bluffton-Beaufort SC
94 Asheville NC
95 Dayton OH
96 Eureka-Arcata-Fortuna CA
97 Appleton WI
98 Pueblo CO
99 Hartford-West Hartford-East Hartford CT
100 Longview TX
101 Jacksonville FL
102 San Francisco-Oakland-Hayward CA
103 Rochester NY
104 Ogden-Clearfield UT
105 Homosassa Springs FL
106 Memphis TN-MS-AR
107 Spartanburg SC
108 Boise Metropolis ID
109 Gainesville GA
110 Ocala FL
111 Seattle-Tacoma-Bellevue WA
112 Roanoke VA
113 Oshkosh-Neenah WI
114 Little Rock-North Little Rock-Conway AR
115 Clarksville TN-KY
116 Tucson AZ
117 Lancaster PA
118 Salt Lake Metropolis UT
119 Omaha-Council Bluffs NE-IA
120 Wichita KS
121 Burlington-South Burlington VT
122 Killeen-Temple TX
123 Lebanon PA
124 Allentown-Bethlehem-Easton PA-NJ
125 Greenville NC
126 Albuquerque NM
127 Los Angeles-Lengthy Seaside-Anaheim CA
128 New Haven-Milford CT
129 Kennewick-Richland WA
130 Grand Rapids-Wyoming MI
131 Rochester MN
132 Fayetteville NC
133 Milwaukee-Waukesha-West Allis WI
134 Panama Metropolis FL
135 Lynchburg VA
136 Palm Bay-Melbourne-Titusville FL
137 Athens-Clarke County GA
138 Indianapolis-Carmel-Anderson IN
139 Santa Fe NM
140 Redding CA
141 Fort Smith AR-OK
142 Inexperienced Bay WI
143 Greenville-Anderson-Mauldin SC
144 Prescott AZ
145 Wausau WI
146 Olympia-Tumwater WA
147 Jacksonville NC
148 Portland-Vancouver-Hillsboro OR-WA
149 Blacksburg-Christiansburg-Radford VA
150 Eugene OR
151 Santa Rosa CA
152 Decatur AL
153 Eau Claire WI
154 Cincinnati OH-KY-IN
155 Jackson MS
156 Provo-Orem UT
157 Winston-Salem NC
158 Bremerton-Silverdale WA
159 Tallahassee FL
160 Crestview-Fort Walton Seaside-Destin FL
161 Madison WI
162 Racine WI
163 Canton-Massillon OH
164 Lake Havasu Metropolis-Kingman AZ
165 Cellular AL
166 Riverside-San Bernardino-Ontario CA
167 Chico CA
168 Greeley CO
169 Salem OR
170 Gainesville FL
171 Rockford IL
172 Greensboro-Excessive Level NC
173 Springfield IL
174 Barnstable City MA
175 Virginia Seaside-Norfolk-Newport Information VA-NC
176 Scranton–Wilkes-Barre–Hazleton PA
177 Akron OH
178 Bridgeport-Stamford-Norwalk CT
179 Huntington-Ashland WV-KY-OH
180 Columbus GA-AL
181 Laredo TX
182 Duluth MN-WI
183 Minneapolis-St. Paul-Bloomington MN-WI
184 Richmond VA
185 Merced CA
186 Claremont-Lebanon NH-VT
187 Anchorage AK
188 Kalamazoo-Portage MI
189 Cedar Rapids IA
190 Auburn-Opelika AL
191 Harrisburg-Carlisle PA
192 Washington-Arlington-Alexandria DC-VA-MD-WV
193 Birmingham-Hoover AL
194 Gulfport-Biloxi-Pascagoula MS
195 Bowling Inexperienced KY
196 Atlanta-Sandy Springs-Roswell GA
197 Detroit-Warren-Dearborn MI
198 Lansing-East Lansing MI
199 State Faculty PA
200 Abilene TX
201 Sioux Falls SD
202 Texarkana TX-AR
203 Toledo OH
204 Miami-Fort Lauderdale-West Palm Seaside FL
205 Springfield OH
206 Traverse Metropolis MI
207 El Paso TX
208 Tulsa OK
209 Hilo HI
210 Dothan AL
211 Oklahoma Metropolis OK
212 Bloomington IN
213 Monroe MI
214 Bend-Redmond OR
215 Salisbury MD-DE
216 Bismarck ND
217 San Antonio-New Braunfels TX
218 Hagerstown-Martinsburg MD-WV
219 York-Hanover PA
220 Rocky Mount NC
221 Waterloo-Cedar Falls IA
222 St. Louis MO-IL
223 Saginaw MI
224 St. Cloud MN
225 Warner Robins GA
226 Chambersburg-Waynesboro PA
227 Florence-Muscle Shoals AL
228 Monroe LA
229 Medford OR
230 Florence SC
231 Las Cruces NM
232 Ann Arbor MI
233 Erie PA
234 Macon GA
235 Brownsville-Harlingen TX
236 Terre Haute IN
237 Studying PA
238 Trenton NJ
239 Niles-Benton Harbor MI
240 Morgantown WV
241 Augusta-Richmond County GA-SC
242 Lexington-Fayette KY
243 Cleveland-Elyria OH
244 Kansas Metropolis MO-KS
245 Youngstown-Warren-Boardman OH-PA
246 Dover DE
247 Daphne-Fairhope-Foley AL
248 Hattiesburg MS
249 Montgomery AL
250 Houston-The Woodlands-Sugar Land TX
251 Charleston WV
252 Tupelo MS
253 Albany GA
254 City Honolulu HI
255 Muskegon MI
256 New Orleans-Metairie LA
257 Binghamton NY
258 Battle Creek MI
259 Des Moines-West Des Moines IA
260 Lincoln NE
261 Charlottesville VA
262 Bloomington IL
263 Bangor ME
264 Buffalo-Cheektowaga-Niagara Falls NY
265 Alexandria LA
266 East Stroudsburg PA
267 Wheeling WV-OH
268 Pottsville PA
269 Torrington CT
270 Midland TX
271 Peoria IL
272 Fargo ND-MN
273 Corpus Christi TX
274 Beaumont-Port Arthur TX
275 Baltimore-Columbia-Towson MD
276 Iowa Metropolis IA
277 Philadelphia-Camden-Wilmington PA-NJ-DE-MD
278 Johnstown PA
279 Chicago-Naperville-Elgin IL-IN-WI
280 Davenport-Moline-Rock Island IA-IL
281 Syracuse NY
282 Houma-Thibodaux LA
283 Baton Rouge LA
284 Pittsburgh PA
285 Atlantic Metropolis-Hammonton NJ
286 Lafayette LA
287 Flint MI
288 McAllen-Edinburg-Mission TX
289 Lake Charles LA
290 Tuscaloosa AL
291 Pittsfield MA
292 Ottawa-Peru IL
293 Albany-Schenectady-Troy NY
294 Champaign-Urbana IL
295 Kingston NY
296 Odessa TX
297 Shreveport-Bossier Metropolis LA
298 Utica-Rome NY
299 Jackson MI
300 New York-Newark-Jersey Metropolis NY-NJ-PA

 

Methodology

To establish the highest rising housing markets, the Journal and Realtor.com reviewed knowledge for the 300 most populous core-based statistical areas, as measured by the U.S. Census Bureau. (Be aware: The Journal and Realtor.com are each owned by guardian firm Information Corp.)

The general methodology explores two fundamental areas: real-estate markets (50%) and financial well being (50%). These two areas comprise the next key indicators:

Actual-Property Provide (16.6%)

Measures the relative shortage of actual property on the market in a market in contrast with others primarily based on real-estate listings’ median variety of days available on the market. Markets with a excessive provide rating have comparatively few days available on the market in contrast with different areas. That comparatively restricted provide is prone to result in home-price progress. In distinction, markets with a low provide rating have extra days available on the market in contrast with different areas, indicating that comparatively plentiful provide will assist alleviate stress on residence costs. (Supply: Realtor.com)

Actual-Property Demand (16.6%)

Measures the relative abundance of real-estate demand in a market in contrast with different markets primarily based on the typical variety of distinctive viewers per real-estate itemizing. Markets with a excessive demand rating have a comparatively giant variety of distinctive viewers per residence. That plentiful purchaser demand is prone to result in home-price progress. In distinction, markets with a low demand rating have a smaller variety of distinctive viewers per real-estate itemizing, indicating that more-limited purchaser demand will assist curb upward stress on residence costs. (Supply: Realtor.com)

Median Dwelling Itemizing Worth Pattern (16.6%)

Measures latest home-price efficiency in contrast with different markets primarily based on typical asking costs for real-estate listings which are lively on Realtor.com.

Unemployment (6.25%)

Measures the relative well being of the native job market. Knowledge consists of the estimated share of the civilian noninstitutional inhabitants 16 years of age and older who weren’t employed throughout the reference interval. The seasonally adjusted sequence is used within the index. (Supply: U.S. Bureau of Labor Statistics)

Wages (6.25%)

Measures the relative high quality of employment within the space by way of complete wages. Knowledge consists of the median typical weekly earnings of full-time wage and wage staff, earlier than taxes and different deductions, together with any additional time pay, commissions or suggestions. Doesn’t embody self-employed staff. (Supply: U.S. Bureau of Labor Statistics)

Regional Worth Parities (6.25%)

Measures how costly it’s to stay and work in a metro space. RPP consists of variations in value ranges throughout metropolitan areas for a given 12 months, expressed as a share of the general nationwide value stage. RPP covers all shopper items and providers, together with housing rents. (Supply: U.S. Bureau of Financial Evaluation)

Facilities (6.25%)

Measures livability of an space by way of out there facilities, as represented by chain shops recognized for “on a regular basis splurge” purchases, a sign of discretionary shopper revenue. Knowledge consists of the variety of Starbucks, Complete Meals and Dealer Joe’s areas inside the space, per capita. (Supply: WSJ evaluation of publicly out there retailer areas)

Commute (6.25%)

Measures high quality of life by way of how lengthy residents must spend every single day attending to and from work. Knowledge consists of common one-way journey time amongst staff ages 16 years and older who didn’t work at home. (Supply: U.S. Census Bureau)

International-Born Residents (6.25%)

Measures the financial well being and variety of an space as represented by the portion of the populace that was born exterior the U.S. Research point out a powerful correlation between the financial vitality of a area and the variety of foreign-born residents. (Supply: U.S. Census Bureau)

Small Companies (6.25%)

Measures the financial well being and variety of an space as represented by small-business exercise. Knowledge consists of the variety of granted SBA 7(a) loans per capita. (Supply: U.S. Small Enterprise Administration)

Property Taxes (6.25%)

Measures real-estate taxes primarily based on median residence value. Areas with larger efficient real-estate taxes are ranked decrease whereas areas with decrease efficient real-estate taxes are ranked larger. (Supply: U.S. Census Bureau)

Closing Rating

Every indicator is listed to normalize the info, and a composite rating is produced by including these values for every geography. The sums are sorted to supply the ultimate rating. If two or extra U.S. metropolitan areas tie of their last rating, then the Actual-Property Demand indicator is used to interrupt the tie.

Write to Inti Pacheco at [email protected]





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