The three most important things about a property: location, location, location. The US housing market is in a strange place right now.
mortgage rates Almost double from a year ago, reflecting the Fed’s campaign to curb inflation. But they were volatileIncluding some steep drops from week to week.
Property prices are still stuck at historic highs, and bidding wars are even being reported in some places The inventory of homes for sale began to grow And housing markets across the country, including some of the largest in the states below, are beginning to cool.
Where does everything lead? Realtor.com recently revised its 2022 report climate forecastand is now claiming a 6.7% drop in sales this year. Forecasters had previously called for a 6.6% rise. But even if the new forecast comes true, it would still be the second-biggest year in sales since 2007, after last year.
As always, some countries will be better off than others. Because companies consider the local housing market in their location decisions, CNBC The Best US States for Business A study measuring the health of each state’s housing market as part of the broader economic category, which was rated 13% of the state’s total score this year methodology. The apartment counter takes into account annual price increases, annual new buildings as well as foreclosures and insolvencies in the first quarter.
Are you looking for a safe place to escape from a possible apartment storm? These ten countries are the most stable.
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Deadwood, South Dakota
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strong economy in Mount Rushmore State The prices are constantly increasing. Mortgage activity is very low, but the high level of underwater mortgages may indicate some cracks beneath the surface.
Economic rank 2022: No. 12 (top rated countries: B-)
Assessment: 20,1 %
Launches per 1000 inhabitants: 8.8
Mortgage Interest: 1 of 17,724 residential units
Underwater Mortgages: 4,8 %
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Contractors work on the roof of a house under construction in the Steelpoint subdivision on Tuesday, July 6, 2021 in Sumter, South Carolina.
Mika Grün | Bloomberg | Getty Images
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Inventory remains historically tight, with bidding wars still common in many South Carolina Markets, prices are still rising steadily. But new construction is picking up and pressure on existing credit is under control.
Economic rank 2022: No. 13 (tie) (highest state rating: B-)
Assessment: 21,4 %
Launches per 1000 inhabitants: 9.5
Mortgage Interest: 1 of 1081 residential units
Underwater Mortgages: 3,4 %
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A worker builds a new home in a housing project in Phoenix, Arizona.
Justin Sullivan | Getty Images
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Prices are higher here than in any other country. But new construction is also booming, which helps to mitigate the situation Arizonainventory crisis. Rising foreclosures are a concern, but home equity is strong.
Economic rank 2022: No. 22 (tie) (highest state rating: C-)
Assessment: 27,4 %
Launches per 1000 inhabitants: 9
Mortgage Interest: 1 of 1,861 residential units
Underwater Mortgages: 1,4 %
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A traditional Vermont home.
Gerhard Sewin | Getty Images
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Jebel Akhdar State continues to benefit from new residents seeking refuge from the larger cities. Real estate prices are rising at healthy rates, and mortgages are far from healthy. However, new construction is not keeping pace, as is the economy as a whole Vermont slow.
Economic rank 2022: 33rd place (top ranking countries: D+)
Assessment: 20%
Launches per 1000 inhabitants: 3.2
Mortgage Interest: 1 of 13,930 residential units
Underwater Mortgages: 1,1 %
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Haus in Nashville, Tennessee.
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Tennessee It has the second-strongest overall economy in the country, and its strong and stable housing market is a big reason for that. Real estate prices rise with economic output. New construction is healthy, although foreclosures and submerged mortgages are starting to creep in.
Economic rank 2022: Nr. 2 (Top-Ranking Countries: A +)
Assessment: 24,1 %
Launches per 1000 inhabitants: 8.2
Mortgage Interest: 1 of 2797 housing units
Underwater Mortgages: 2,9 %
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A “New Homes” sign near the CBH Homes Copper Basin Basin Community in Nampa, Idaho, October 19, 2021.
Kyle Grün | Bloomberg | Getty Images
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IdahoThe housing market in Egypt has been turning into gangs for some time. Buying a home in Gemland is not for the faint of heart. But new construction has slowly started to ease the inventory pressure. A spike in foreclosures is a potential red flag when the economy enters a recession.
Economic rank 2022: Nr. 5 (Top-Ranking Countries: A)
Assessment: 27%
Launches per 1000 inhabitants: 10.5
Mortgage Interest: 1 of 6015 residential units
Underwater Mortgages: 1,6 %
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A residential neighborhood in Austin, Texas on Sunday May 22, 2022.
Jordan Vonderhar | Bloomberg | Getty Images
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TexasPopulation gains are helping fuel the housing boom, but they’re not getting out of hand. New apartments are quickly being built for these new residents, and the housing standards are good.
Economic rank 2022: Nr. 8 (Top-Ranking Countries: A-)
Assessment: 19,3 %
Launches per 1000 inhabitants: 8.9
Mortgage Interest: 1 of 2,326 residential units
Underwater Mortgages: 2,5 %
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Single family log available in Saint Cloud, Florida.
Jeff Greenberg | globale Fotosammlung | Getty Images
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It’s almost all sunshine and light Floridareal estate market. The prices are rising and so are the kits. Rising foreclosures in a country known for boom and bust cycles could be a looming cloud.
Economic rank 2022: Nr. 4 (Top-Ranking Countries: A)
Assessment: 25,7 %
Launches per 1000 inhabitants: 9.6
Mortgage Interest: 1 of 1211 residential units
Underwater Mortgages: 1,4 %
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A For Sale sign hangs in front of an apartment building in the Queen Anne neighborhood of Seattle, Washington on May 14, 2021.
Karen Dossey | Reuters
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WashingtonThe company’s impressive economic growth has kept its housing market one of the hottest in the country for several years, defying expectations of a crash. The lack of new builds is likely to keep prices high and raise lingering concerns about the stability of the market.
Economic rank 2022: Nr. 3 (Top-Ranking Countries: A)
Assessment: 20,1 %
Launches per 1000 inhabitants: 7.3
Mortgage Interest: 1 of 4,965 residential units
Underwater Mortgages: 1,2 %
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A worker uses a Volvo AB excavator to build a road during home construction in Saratoga Springs, Utah.
Georg Fry | Bloomberg | Getty Images
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No matter how you look at it, the housing market in the beehive state is overcrowded. Prices are rising at the second-highest rate in the country, but plenty of new inventory is on the way with the fastest pace of new construction in the country Utah. Foreclosures can be controlled and contribute to strong homes in the country’s premier housing market.
Economic rank 2022: Nr. 6 (Top-Ranking Countries: A)
Assessment: 27,1 %
Launches per 1000 inhabitants: 12.2
Mortgage Interest: 1 of 2063 housing units
Underwater Mortgages: 1,4 %
Datenquellen: CNBC America’s Top States for Business Study, Federal Housing Finance Agency, US Census Bureau, ATTOM Data Solutions.
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