Atlanta was ranked No. 7 among Zillow’s top 10 housing markets for 2022, as the Sun Belt dominated the list yet again.
Tampa, Fla., took the top spot, followed by Jacksonville, Fla.; Raleigh, N.C.; San Antonio; and Charlotte, N.C. Last year, Austin, Texas, was named the hottest market in what Zillow dubbed the “Sunbelt Surge.” Tampa was ranked No. 4.
Zillow cited strong forecasted home-price growth, high job growth, fast-moving inventory and plenty of prospective homebuyers in explaining its choices. The markets making the list have also historically been relatively insulated from rising mortgage interest rates or a slowing stock market, which Zillow cited as the primary risk factors facing housing markets this year.
New York, Milwaukee, San Francisco, Chicago and San Jose, Calif., ranked at the bottom of the list. Zillow noted that the cities are characterized by fewer jobs and less-favorable demographic trends. However, they are nevertheless expected to “fare just fine on their own” this year, according to a press release.
The full list of Zillow’s 10 hottest markets for 2022 is:
- Tampa, Fla.
- Jacksonville, Fla.
- Raleigh, N.C.
- San Antonio
- Charlotte, N.C.
- Nashville, Tenn.
- Orlando, Fla.
- Austin, Texas
Zillow used several factors to come up with this year’s rankings:
- Forecasted annual home-value appreciation in November 2022.
- Forecasted acceleration in home-value appreciation between November 2021 and November 2022.
- Standardized listing days per home between January and November 2021.
- The two-year change in total non-farm employment per two-year residential building-permit total.
- The projected change in owner households, 2021-2022.