We’ll be in Tucson next month, and I’ll be doing my own investigation!
In 2021, single-family existing-home prices rose at the fastest pace in five decades at an average year-over-year pace of 18%, driven by strong job growth, historically low mortgage rates, a post-pandemic recovery in household formation, and inadequate housing construction and pandemic-induced supply bottlenecks. At the metro area level, the differences in price appreciation were heavily driven by job growth and by businesses and people moving into the area, especially among workers with the ability to work fully remotely.
Are there markets where home prices are still undervalued relative to the market fundamentals’ underlying home prices? In its latest report, 2022 Housing Market Hidden Gems, the National Association of REALTORS® identified the top 10 markets with strong underlying housing market fundamentals but where home prices are still undervalued and relatively affordable. As such, these hidden gem markets are expected to experience stronger price appreciation in 2022.
In alphabetical order, the hidden gem markets are as follows:
- Dallas-Fort Worth, Texas
- Daphne-Fairhope-Farley, Alabama
- Fayetteville-Springdale-Rogers, Arkansas-Missouri
- Huntsville, Alabama
- Knoxville, Tennessee
- Palm Bay-Melbourne-Titusville, Florida
- Pensacola-Ferry Pass-Brent, Florida
- San Antonio-New Braunfels, Texas
- Spartanburg, South Carolina
- Tucson, Arizona
Read more here:
I lived in Tucson, AZ for seven years. Good college town/city. Go Wildcats!
Best part of town is anything along the Catalina Foothills area North/Northeast/Northwest of town. Paul McCartney has a 151 acre ranch on the east side of town, near the Rincon mountain foothills.
When it gets too hot in the valley, some folks drive up to Mount Lemmon for a cool escape from the heat. And sometimes it even snows up there and people go skiing!
U making strategic move to leave California ?
Who me? No, wifey has a meeting there so I’m tagging along. Though, I’d like to give my own opinion of where to move!