Although the housing market is often spoken of in aggregate, variations and pricing and market performance can be very localized. For example, according to data from Zillow, the anticipated one-year growth rate for homes prices in the U.S. as a whole is 1.7%, with a median price of $395,220 expected to be reached in 2033. But in fast-growing markets like Columbia, Missouri, that anticipated rate is 6.4% — more than three times the national average.
To determine which are the most attractive cities in which to buy real estate over the coming decade, GOBankingRates looked at homes that are currently priced below the national median of $333,910 with anticipated growth rates in excess of the projected 1.7% national rate. We issued a caveat that of course home prices don’t move in a strictly linear fashion; however, the anticipated one-year growth rate was used primarily to identify housing markets that are moving in the right direction:
For those who are leaving San Diego and want to know where the best deals are, here are the metro areas ranked by their Freddie Mac HPI change from the peak:
It looks like the San Diego market is surviving the current conditions quite well, while the rest of the country is being crushed by soaring inventory. The Californians must be staying home, and those feeder towns are suffering!
Any town that has a +50% increase year-over-year would be feeling it – which includes virtually every area that people relocating from here would consider.
These are ideal conditions for those who are willing to sell here, and move out-of-state. Sell here, and go rent there for a year or two? Might as well 1031 your house here, and defer those capital-gain taxes!
Here is Bill’s second look at the active inventories with more metros added. It is incredible how inventory is exploding elsewhere, yet San Diego has fewer homes for sale now than during last year’s uber-frenzy.
The Atlanta metro population is 6,144,050 which is almost double ours….but they have 5x the inventory!
It should open up more opportunities for San Diego homeowners to sell at record prices (or close), and cut good deals out-of-state. Metros that have 2x the inventory YoY should be ripe for 10% to 20% discounts.
If you don’t want to leave San Diego, and you’d like to downsize into a newer one-story that isn’t too big that’s centrally-located in a gated senior community where the residents are younger and have plenty of activities – including a vibrant pickleball community – check out Auberge!
It’s located in the middle of the Santaluz, The Crosby, and Fairbanks Ranch triangle!
I’ve sold three in here and people love how the majority of residents are younger seniors so it doesn’t feel like God’s waiting room. This model is 3br/2ba, 1,553sf and it listed for $1,550,000. It sold the first week and just closed for $1,500,000 cash.
Welcome home to Auberge, an upscale 55+ luxury gated community boasting modern floor plans and great amenities including pools, parks, pickle ball courts, trails, clubhouse, spa, fitness center, dog park, and bbq areas. Auberge is a very social community that holds many fun events and activities. This beautifully upgraded, absolutely immaculate and tastefully designed single-story house offers an open floor plan, a gourmet kitchen with granite counter tops, stainless steel appliances, two car garage, and cozy, professionally landscaped private backyard with outdoor waterfall wall.
Or if you would leave the USA, here are some ideas around the world:
If you’d like to move to a small town in Northern California of 11,000 people with its own historic downtown area and yet close to other amenities, consider moving to Placerville:
