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Tampa, Florida now has the hottest housing market in the United States, beating out other major real estate hotspots including Austin, Texas.
According to Yahoo! Finance, Zillow rated the gulf coast Tampa metro area as having the hottest housing market in the US for 2022 thanks to the number of potential buyers, scarcity of property listings, house prices, and a bountiful job market.
Zillow expects Tampa Bay home prices to grow at their fastest pace this year.
“Homebuyers are attracted to markets in the Sun Belt that offer relative affordability, thriving economies and year-round outdoor living,” said Zillow economist Alexandra Lee. “Across the board, sellers will remain in the driver’s seat, but especially so in the hottest markets. Buyers should be ready for strong competition for homes, which means bidding wars and homes flying off the market only days after they are listed.”
“The pandemic brought an acceleration of trends we were seeing in 2018 and 2019,” said Zillow senior economist Jeff Tucker. “More affordable, medium-sized metro areas across the Sun Belt saw significantly more people coming than going, especially from more expensive, larger cities farther north and on the coasts. The pandemic has catalyzed purchases by millennial first-time buyers, many of whom can now work from anywhere.”
According to Zillow, these are the hottest housing markets for 2022:
1. Tampa, Florida
2. Jacksonville, Florida
3. Raleigh, North Carolina
4. San Antonio, Texas
5. Charlotte, North Carolina
6. Nashville, Tennessee
7. Atlanta, Georgia
8. Phoenix, Arizona
9. Orlando, Florida
10. Austin, Texas