The National Association of REALTORS® identified the top metro areas for the next 3-5 years based on domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, among other variables.
In alphabetical order, the markets are:
- Charleston, South Carolina
- Charlotte, North Carolina
- Colorado Springs, Colorado
- Columbus, Ohio
- Dallas-Fort Worth, Texas
- Fort Collins, Colorado
- Las Vegas, Nevada
- Ogden, Utah
- Raleigh-Durham-Chapel Hill, North Carolina
- Tampa-St. Petersburg, Florida
Strong job growth is one factor driving up prices in these markets, with payroll employment rising about 2.5% annually in the last three years, higher than the national rate of 1.6%. In Ogden, Las Vegas, Dallas, and Raleigh, job growth rose nearly 3%
In most of these metro areas, about half of recent movers who are renting can afford to buy a home in those respective markets when compared to the nation’s 100 largest metro areas. Home ownership rates in these markets are expected to increase due to the relative affordability.
Source: Compounded annual growth of payroll employment from 2016 Q3 to 2019 Q3, Bureau of Employment Statistics
Source: NAR calculations of the 2018 American Community Survey