Could you guess it? The sunniest cities in the US topped the list for top moving destinations in 2022. Sun Belt cities, AKA the region classified in the US which is stretched across the southern portion of the nation, was at the top of the list for most popular in 2021, and yet again takes the throne for this year.
In 2021, Movers from across the nation headed to medium-sized, more affordable, metropolitan cities across the Sun Belt. Some cities that topped the list included Dallas, Charlotte and Sarasota, their attractiveness stems from relative affordability and satisfying weather that allows locals to enjoy the outdoors year-round.
In 2022, smaller Sun Belt cities near those destinations are likely to be among the most popular destinations for home shoppers!
With the increased demand and no signs of stopping the influx of people, home buyers can anticipate tough competition and an increase in home prices this year (more so than they would have in the past). Hot markets like the Sun Belt cities are expected to appreciate much faster than the rest of the nation. The cities that make up this list are as follows:
- San Antonio
Tampa makes the cut for many reasons. The first is the obvious influx of people. The population in Tampa has increased by 3% in just two years. Second is the general lack of homes available with the city already grown to its limits, and a booming job market. Forecasted home value shows that homes may exceed increases of 24%
It is predicted that home values will grow by over 14% this year. All of the top 10 hottest cities listed above are expected to exceed that number.
Across the nation, there are a few factors that are influencing the housing market. The first factor is the large generation of millennials that are reaching their peak in home-buying years, combined with the spike in virtual and flexible job opportunities and social media influence. Additionally, out of the ten markets on our list, six of them have been adding more job opportunities over new homes available in the past two years, which only catalyzes the competition in these markets.
In the midwest, we have seen Salt Lake City heat up as it now ranks 13th, Kansas City at 14th, Oklahoma City at 16th, and Columbus and indianapolis at 17th and 18th respectively.
Austin is down to number 10 (coming from the first place position in 2021), which Denver fell to the 15th ranking after being in 5th last year.
With the changes happening around the country and trends in the housing market, be ready for a ‘sellers market’ in 2022. Remember, although, that every market is different so be prepared to discuss strategies with your Real Estate Agent.