2020 was a challenging year for everyone. While the pandemic affected all sectors, the real estate industry behaved differently. Rather than damaging housing activity, the pandemic’s impact has been complex. COVID 19 has changed how we live and where we live. In fact, many real estate markets in the USA have been hot since 2020. According to Mill City Home Buyers, if you are considering buying a house in 2021, here are the hottest housing markets at the moment…
1. Boise, ID
Median house price: $445,000
Expected price change: 9.1%
House sale increase: 9.8%
Idaho’s capital city Boise is steadily rising as a tech hub in the United States. The area prides itself on its high quality of life and stable economy, attracting people from all over the US. The biggest number of people are coming from Oregon, California, and Washington. The trend has been accelerating in the last few years, with young people looking for affordability without compromising the quality of life.
The climate in Boise is excellent, and there are plenty of entertainment joints and shopping areas. Many people are also attracted by the plethora of outdoor activities such as ski resorts and white water rafting. Certainly an area to consider!
2. Seattle, WA
Median house price: $629,050
Expected price change: 9.7%
House sale increase: 8.9%
It is no surprise that Seattle is among the top housing markets in 2021. The area is home to Microsoft, Amazon, Costco, and Starbucks. The local economy is also strong, and with its proximity to waters, mountains, and some excellent wineries make the area an irresistible place to live. There are also great schools and social amenities, giving a high quality of life to its residents. In addition, houses here are relatively affordable, because one can find a two bedroom townhouse within a budget of $350,000, or a four bedroom house in the suburbs with a budget of $450,000.
3. Sacramento, CA
Median house price: $554,050
Expected price change: 7.4%
House sale increase: 17.2%
With the increased freedom to work from home, home buyers from the San Francisco Bay Area are trooping to Sacramento for increased affordability. Sacramento has people from all walks of life, and whether you are buying a home for the first time or downsizing, you will find a property within your budget. In addition, young people are attracted to Sacramento thanks to its excellent school system and social life. The area also has excellent scenic locations nearby, such as Lake Tahoe.
4. Charlotte, NC
Median house price: $368,820
Expected price change: 5.2%
House sale increase: 13.8%
Charlotte is a renowned financial hub, with the headquarters of Bank of America being located here. The city also has excellent restaurants, schools, and a thriving tech scene, all of which attract young families and millennials to live here. In addition, the city is also popular with retirees seeking warm weather and affordable cost of living. As the city continues to grow, builders are keeping up with the demand for housing. Buyers can buy a decent home with a $250,000 budget.
5. Phoenix, AZ
Median house price: $412,260
Expected price change: 7%
House sale increase: 11.4%
Phoenix is one city that appeals to both retirees and millennials, thanks to the low cost of living, dry heat, and since it has access to plenty of golf courses. The area is drawing many home buyers from the West Coast who are seeking affordability. In addition, the tech sector in this area is growing, which has been attracting young people. The local economy is also strong, thanks to the friendly business environment and existence of 7 military bases close by.