A report from a website focused on home buying shows the price of housing in the U.S. is soaring — up 21 percent since the start of 2021.
House Method said in a press release on the report that it analyzed data on the 100 largest Metropolitan Statistical Areas and ranked them according to seven factors, including affordability, inventory, and population growth.
The housing market has exploded in recent years due to fluctuating mortgage rates, high demand accompanied by low inventory, as well as remote working opportunities allowing millions to rethink their home base. Americans have begun to rethink their priorities in a living space, many prioritizing space and comfort while others have flocked to bustling metropolises, leading to an exponential increase in home ownership.
Many of the hottest housing markets are also some of the least affordable as demand increases and inventory decreasesOur analyses found that Tampa-St. Petersburg-Clearwater, Florida, tops the list as the hottest housing market this year. Homes are sitting on the market for the least amount of time before selling, selling for top dollar, and attracting new residents at a rapid rate.
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