HUNTSVILLE, Ala. (WHNT) — The Rocket City is listed among the top 10 real estate markets to watch in 2023, according to a new forecast from the National Association of Realtors (NAR).
The report identified Huntsville as one of the 10 real estate markets expected to “outperform other metro areas in 2023.” NAR considered criteria like job growth, affordability, population growth, and the number of renters who can afford a median-priced home.
See the full criteria taken into account in the report here.
The other nine cities or metropolitan areas included in NAR’s top 10 real estate markets for 2023 include:
- Atlanta-Sandy Springs-Marietta, Ga.
- Raleigh, N.C.
- Dallas-Fort Worth-Arlington, Texas
- Fayetteville-Springdale-Rogers, Ark., Mo.
- Greenville-Anderson-Mauldin, S.C.
- Charleston-North Charleston, S.C.
- Jacksonville, Fla.
- San Antonio-New Braunfels, Texas
- Knoxville, Tenn.
Lawrence Yun, the organization’s chief economist and senior vice president of research, added the forecast expects 4.78 million homes to be sold in 2023. He also said prices will remain stable.
“The demand for housing continues to outpace supply,” Yun said. “The economic conditions in place in the top 10 U.S. markets, all of which are located in the South, provide the support for home prices to climb by at least 5% in 2023.”
News 19 reached out to the Huntsville Area Association of Realtors (HAAR) for a reaction to the big news.
HAAR President Isaac Winkles said, “This is a well-deserved and hard-earned recognition, and our top priority is to ensure the ‘American Dream’ of owning a home is attainable for everyone in Madison County.”
“The Huntsville metro area landed n the list because of responsible work from our local leaders, but we all have more work to do to ensure all income earners can buy the home of their dreams and build wealth,” Winkles concluded.