Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

MortgageReal Estate

Here are the nation’s top real estate markets for 2020

Urban Land Institute's Emerging Trends in Real Estate report puts Austin, Texas, at No. 1

The Urban Land Institute’s annual look at the year ahead cited Austin, Texas, as the top U.S. real estate market for 2020. 

“Austin is number one, rising from sixth place a year ago to first in overall real estate prospects and from fourth to first place in local expectation of investor demand in 2020,” according to the Emerging Trends in Real Estate report issued by ULI and PwC on Thursday. “Our analysis considered many salient features: Its slogan (“Keep Austin Weird”), deep pool of talent, unique and popular lifestyle, and ambitious commitment to business and real estate expansion.”

The 107-page report also noted Austin’s negatives:

“Traffic is an ongoing issue,” the report said. “Housing affordability pressures are rising. These could be exacerbated since Austin has the highest projected population growth rate for the coming five years among the 80 markets we analyze.”

The capital of Texas was followed by the Raleigh/Durham metro area. Describing the attributes of the No. 2 city, the report said: 

“This market’s concentration of educational institutions – Duke University, the University of North Carolina, North Carolina State University, and several smaller colleges – coupled with the Research Triangle Park, has branded the area as a technology mecca, and it now has more than 89,000 tech jobs, which, at 10.9% of the employment base, ranks third behind Silicon Valley and San Francisco in tech industry share.”

Nashville, Tennessee, was No. 3. 

“The local mood is ebullient, with expectations strong for continued investment and development,” the report said. “News on the corporate location front – Alliance Bernstein’s headquarters, an Amazon operations center, and the expansion of dental products firm Smile Direct Club – has bolstered confidence and generated real estate activity associated with more than 8,000 new jobs linked to these firms.”

Charlotte, North Carolina, was No. 4.

“Charlotte is attracting technology and manufacturing firms, as it continues to diversify its economy beyond the banking sector that dominated over the past 20 years,” the report said. “Charlotte has focused on infrastructure, with its airport expansion and light-rail growth emblematic of its commitment in this crucial field.”

Boston, ranked No. 5,  was the only northeast city to make it into the top 10.

“Boston enjoys strong structural advantages including its outstanding educational institutions, which act as a talent magnet, and its powerful tech industry, which accounts for 10 percent of Boston’s jobs base,” the report said. “This is an expensive area and has affordability and congestion issues to cope with.”

Rounding out the top 10: Dallas/Fort Worth was No. 6, followed by Orlando, Florida, Atlanta, Los Angeles, and Seattle.

Here's the full list of the top 10 markets for real estate in 2020:

  1. Austin, Texas
  2. Raleigh/Durham, North Carolina
  3. Nashville, Tennesse
  4. Charlotte, North Carolina
  5. Boston
  6. Dallas/Fort Worth
  7. Orlando, Florida
  8. Atlanta
  9. Los Angeles
  10. Seattle

Most Popular Articles

FHFA: Government to back mortgages up to $970,800 in 2022

The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit will be $970,800.

Nov 30, 2021 By

Latest Articles

Zillow: Over half of our iBuying inventory is on the move

Zillow said Thursday that more than 50% of its remaining iBuying inventory “has sold, is under contract to sell or has reached agreement on disposition terms.”

Dec 02, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please