As interest rates have risen, an increasing number of homebuyers have shied away from buying a home. In some real estate markets, however, sales and prices are expected to continue going up through 2023. What they all have in common is the affordability factor. According to Realtor.com Chief Economist Danielle Hale, “These places did not overheat during the [COVID-19] pandemic housing frenzy over the last two years. That puts them on more solid footing. Prices and sales still have more room to grow.”
To rank markets positioned for rapid growth in 2023, Realtor.com looked at housing and economic data in the 100 largest metropolitan areas. These are the top ten markets:
Hartford, CT Median home list price in November 2022: $372,400 Price change in 2023: 8.5% Sales change in 2023: 6.5%
El Paso, TX Median home list price in November 2022: $290,500 Price change in 2023: 5.4% Sales change in 2023: 8.9%
Louisville, KY Median home list price in November 2022: $290,000 Price change in 2023: 8.4% Sales change in 2023: 5.2%
Worcester, MA Median home list price in November 2022: $447,500 Price change in 2023: 10.6% Sales change in 2023: 2.5%
Buffalo, NY Median home list price in November 2022: $239,000 Price change in 2023: 6% Sales change in 2023: 6.3%
Augusta, GA Median home list price in November 2022: $318,900 Price change in 2023: 5.7% Sales change in 2023: 6.2%
Grand Rapids, MI Median home list price in November 2022: $358,300 Price change in 2023: 10% Sales change in 2023: 1.6%
Columbia, SC Median home list price in November 2022: $300,400 Price change in 2023: 3.6% Sales change in 2023: 7.7%
Chattanooga, TN Median home list price in November 2022: $396,500 Price change in 2023: 8.2% Sales change in 2023: 2.9%
Toledo, OH Median home list price in November 2022: $161,100 Price change in 2023: 6.7% Sales change in 2023: 4.2%
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