Huntsville expected to be one of America’s biggest, most affordable real estate markets of 2023 –

Huntsville has been named one of the top 10 markets to watch in the coming year by the National Association of Realtors.

In fact, according to the recent analysis, it is the most affordable area among the top 10.

A forecast for 2023 by the association anticipates that next year will be the “turning point” – where more buyers return to the market as inflationary pressures cool. However, the NAR says the nation’s housing inventory should remain tight.

Why? Because supply bottlenecks continue, which should slow housing starts, and high interest rates will discourage some from seeking mortgages.

The NAR’s top 10 is based on looking at markets with several factors at play, such as better affordability than the national average, more renters who can afford to buy, the percentage of information industry jobs, migration gains and workers who telecommute.

In addition, the survey looked at faster population growth than the national average, faster growth in housing inventory than nationally, and a smaller housing shortage than the rest of the U.S.

At the top of the list was the Atlanta-Sandy Springs-Marietta, Ga., area, which is the only area among the top 10 where all of those factors are at play.

All 10 cities in the top 10, in fact, are located in the South, from Texas to the Carolinas. Huntsville placed seventh, between Charleston, S.C., and Jacksonville, Fla.

“The typical (Huntsville area) family earns 20% more than the qualifying income ($80,300) to purchase a mid-priced home. Growing job opportunities and low cost of living attract even more movers,” according to the NAR.

According to the analysis, 29% of renters in Huntsville can afford to buy a typical home.

Of the top 10 cities, Huntsville had the highest increase in change of active listings, from October 2020 to October 2021, with a whopping 191.4%.

About 18% of people employed in Huntsville are

The original article can be found here