The 10 most stable housing markets in the United States, ranked
The US housing market and economy at large have endured a blizzard of rising home prices and climbing mortgage rates. But take shelter from the storm with these financially sound markets.
The housing market and the economy at large have taken a wild ride this year, with home prices clinging to historic highs and mortgages hitting rates far surpassing the lows of 2021.
Combined with inflation, the rollercoaster ride has given homebuyers pause, even as it signals a gradual recovery of housing inventory.
Realtor.com now anticipates home sales to decrease by 6.7 percent over the course of 2022, compared to previous forecasts of sales increasing by 6.6. percent.
Where’s the best place to wait out all the ups and downs in the market? According to an analysis by CNBC that weighed each state’s economic health, annual home price appreciation, new construction per year and foreclosures and insolvency from the first quarter of 2022, Utah has the most stable housing market in the country right now.The financial news outlet drew data from the recently released CNBC America’s Top States for Business study, the Federal Housing Finance Agency (FHFA), the U.S. Census Bureau and Attom Data Solutions.
1. Utah
2022 Economy ranking: 6
Home price appreciation: 27.1 percent
Housing starts per 1,000 people: 12.2
Foreclosure rate: 1 in 2,063 housing units
Underwater mortgages: 1.4 percent
Utah, undoubtedly, has a hot housing market right now.The state boasts the second-highest rate of rising home prices in the country, but also the fastest rate of new construction. In addition, its foreclosure rate is low and the economy is in a strong position.
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