The National Association of Realtors recently released their “2022 Housing market Hidden Gems” report during their 3rd annual Real Estate Forecast Summit. Among other things, the report says in 2022, the real estate industry should expect slower housing price appreciation, easing inflation and rising interest rates.
“The housing sector performed spectacularly in 2021 in many markets, with huge gains achieved in places like Austin, Boise and Naples…Several markets did reasonably well in 2021, but not as strong as the underlying fundamentals suggested. Therefore, in 2022, these ‘hidden gem’ markets have more room for growth.” Said Lawrence Yun, the NAR’s chief economist.
The NAR identified the following 10 markets as “hidden gems” that are expected to experience stronger price appreciation relative to other markets in 2022:
- Dallas-Fort Worth, Texas
- Daphne-Fairhope-Farley, Alabama
- Fayetteville-Springdale-Rogers, Arkansas-Missouri
- Huntsville, Alabama
- Knoxville, Tennessee
- Palm Bay-Melbourne-Titusville, Florida
- Pensacola-Ferry Pass-Brent, Florida
- San Antonio-New Braunfels, Texas
- Spartanburg, South Carolina
- Tucson, Arizona