Zillow predicts Tampa, Florida as the emerging Hot Market of 2022
As we ring in the new year, it seems that the hot housing market we saw in 2021 will be following suit for 2022. With all of the nation’s 50 largest markets expected to continue to grow healthily in 2022, sellers nationwide can expect to remain in the driver’s seat. On the other hand, buyers should prepare for an even more competitive environment.
Although we are seeing hot markets across the board, Zillow has predicted which one will be crowned at the top of the list – Tampa, Florida. Following close behind on the list are a host of relatively affordable and fast-growing Sun Belt markets. With residents fleeing high-tax states such as Massachusetts, Connecticut and California, it is no surprise that we continue to see this migration pattern to southern states with no state income tax and relatively low property taxes.
Jacksonville, Raleigh, San Antonio and Charlotte fill out the list of the top five hottest markets for 2022, explained by a mix of strong forecasted home value growth, strong economic fundamentals including high job growth, fast-moving inventory and an abundance of ready buyers. Additionally, these markets have historically withstood negative changes such as rising mortgage interest rates or a slowing stock market – two risk factors for housing and the economy overall as the calendar turns.
Nationally, Zillow forecasted a 14.3 percent growth in home value through November 2022, with the top 10 markets expected to exceed that number. The company predicted Tampa home values will skyrocket by roughly 24.6 percent during the year.
Zillow's Top 10 Hottest Real Estate Markets in the U.S. for 2022:
Tampa
Jacksonville
Raleigh
San Antonio
Charlotte
Nashville
Atlanta
Phoenix
Orlando
Austin
If you are looking for a cool real estate market, head north or out west. Zillow said the coolest markets, by price, are expected to be New York City, Milwaukee, Wisconsin, San Francisco, Chicago, and San Jose, California. Still, overall Zillow said home values will grow by at least 10 percent over the next 12 months in all metro areas except San Francisco.
