According to Census data, certain cities in the south and on the west coast will likely see surging home prices to accompany surging population numbers in the coming months. “Supply is at record lows and prices continue to climb,” observed one Phoenix broker, Tucker Blalock. in response to the data. Realtor.com senior news editor Clare Trapasso called the list of cities unexpected, noting, “The nation’s fastest-growing cities are mostly far from the ultra-pricey tech hubs on the West Coast and the soaring skyscrapers on the East Coast,” in her report.
Of particular note are metro areas in the South, which are good for residents moving into the area thanks to relatively low cost of living and good housing affordability and high volumes of jobs with more being created all the time. “That means home prices in those cities [are rising],” however, warned Trapasso. “Longtime and new residents compete for a limited number of homes for sale.”
The U.S. Census Bureau listed these 10 cities as the fastest-growing in the country:
- San Antonio, Texas
- Phoenix, Arizona
- Dallas, Texas
- Fort Worth, Texas
- Los Angeles, California
- Seattle, Washington
- Charlotte, North Carolina
- Columbus, Ohio
- Frisco, Texas
- Atlanta, Georgia
Rising home prices are not slowing buyers in these cities down, either, as many are located near new corporate headquarter destinations for companies leaving expensive west-coast locations for more affordable real estate markets. “Even as prices increase, [buyers] perceive the market as still having tremendous value compared to where they are coming from,” observed Blalock.
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