As the housing market is forecasted to cool, CNBC’s America’s Top States for Business study has released its results including the 10 most stable housing markets in the nation. For businesses looking at prospective locations, the study considers housing stability as a part of the broader economy category, making up 13% of the overall score this year.
Considering new construction per year, year-over-year price appreciation, and foreclosures and insolvency in the first quarter, the list includes: Utah, Washington, Florida, Texas, Idaho, Tennessee, Vermont, Arizona, South Carolina and South Dakota.
“Home prices remain stuck at historic highs with bidding wars reported in some places, even as the inventory of homes for sale begins to grow and housing markets across the country, including some of the biggest in the states below, begin to cool.
Where is everything heading? Realtor.com recently revised its 2022 forecast, now calling for sales to decline by 6.7% this year. Forecasters previously called for a 6.6% increase. But even if the new forecast holds true, it would still be the second biggest sales year since 2007, only trailing last year.”