Top 7 Real Estate Markets For Stability in 2023

Real Estate News TV

The top seven real estate markets for stability next calendar year. We’re going to take a look at that and see where these markets are calendar year. For 2023, right. Because what we’ve had is we’ve had growth, we’ve had things go on, we have inflation going on now. We have all these different concerns and sometimes you’re just like, can it be stable for just a minute? Yeah, right. And what people are nervous about is prices going down, price is going up. They just want to know what’s going on. Right. Right. And so we have the top seven markets. And I looked through this list and what I saw is this is kind of stayed true for a long time. For years and years. All right. Well, let’s take a look at some of these on the list. There were a few that I you know, that may be new players to the game. So we’re going to skip right down and we’re going to get to code is number ten. South Dakota. Not North Dakota. Not South Dakota. Now, they had an appreciation rate of 20%. That’s a very, very high appreciation rate. 20% it is. And they have new houses. They have underwater mortgages of roughly 5%. So those are people I’m not sure how, but they’re upside down in their mortgage currently would be really difficult to do when prices are going up 20% to have 5% of them underwater. Don’t really know exactly how that would be. It’s possibly bad data. I mean, even if you bought the housing, it would be up in value immediately. Right. So how you. Anyways, let’s move on. Nine number nine, South Carolina, I’ve been hearing more people purchasing there. They’re up 21%. Yeah. All right. There’s a lot of there’s new construction, it says. But Arizona so Arizona has always been one of those states that, you know, they’ve seen a lot of appreciation, but it’s also remained stable. Our 7% appreciation. In that’s a lot 27. And then imagine that. Look at their their mortgage their I guess they call them underwater mortgages 1.4 and that’s pretty low. Well, yeah, if you’re going up 27%, it’d be extremely difficult to be behind on it. Number seven, Vermont, Vermont, new residents. What did it say? People are moving there to escape from the big cities. Got it. Tennessee, we’ve heard all about Tennessee. The Nashville area is booming. Second strongest overall economy in the nation. Wow. 24%. They’re crazy. Those are big numbers on what these properties are up in value, right? They’re on average, they’ve all been over 20%. Right. Idaho, we know that. Gosh, there’s not even anywhere for four people to build their. 27%. Wow. Foreclosure rate, one in 6000 homes, underwater mortgages, 1.6. And the best state of all, Texas, that’s awesome. So 19%. So I think it has the lowest appreciation rate on the whole list.Which I have no problem with that. Okay. So think about that for just a second. If you think prices are crazy here, right, and you have to look on a relative index of what it is compared to others, I think everywhere else has been higher on the list so far. Yeah, this has been by far the lowest. So if you’re worried about a price reset to the negative side, you’re going to have the smallest amount of that here compared to other places because it’s only went up so much. Yeah, I’ll take 19%. It’s a great appreciation rate, right? I have no problem with that. Always remains been stable and I think we’ll remain stable. Yeah. Florida. Florida is number three, 25%. Pretty high. Yeah, it totally is. All right. Let’s get to Washington. Washington, 20%. It’s crazy. Economy number. Three Utah. Do you guys know who Shaun Bradley is? 27%. Shaun Bradley lives moved to Utah. Oh, yeah, Utah. Yeah. He was a client of one of my realtor friends. Yeah. And starts per 1000 is 12.2. Our 12.2. So they have a lot of new homes being built there in Utah. If we could scroll back up and let’s see where Texas is on new housing starts, because that’s an important thing. Our population continues to grow. And Texas, we’re at 8.9% or 8 --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message