The COVID-19 pandemic reshaped many housing markets, making previously nontraditional cities attractive, with expected growth driven by affordability, job growth, and migration patterns.
The NAR report expects continued resurgence in the Midwest, highlighting Indianapolis and Grand Rapids as key areas due to affordability, job growth, and a reduced lock-in mortgage effect.
While some pandemic-driven housing hotspots have cooled, the market remains promising in places like Phoenix and Charlotte, driven by significant job growth and affordable housing options.
Grand Rapids is poised for higher inventory due to a lower percentage of high-rate mortgages, while Indianapolis's affordability with 42% of homes under $236,000 promises a thriving market.
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