January 30, 2020 | By RGR Marketing Blog

Hint: The Hot Ones Are Not the Housing Markets You Might Expect

Mortgage LeadsWith mortgage rates predicted to remain low or drop even further in 2020, buyer activity is expected to be hot and heavy in the New Year. But not all housing markets are expected to perform the same. Some markets are positioned to break out this year, and believe it or not, they’re actually not the usual suspects.

Say goodbye to San Francisco, Denver, and Seattle from the top of the hottest housing markets list, for starters. In 2020, there will be come new (and unexpected) faces making up the top ten. Read on to find out where your mortgage business might pursue its growth this year.

Top 10 Housing Markets in 2020

#1: Boise City, ID – Expected sales growth in 2020 of 0.3 percent; expected price growth in 2020 of 8.1 percent

#2: McAllen-Edinburg-Mission, TX – Expected sales growth in 2020 of 4.4 percent; expected price growth in 2020 of 4.0 percent

#3: Tucson, AZ – Expected sales growth in 2020 of 3.4 percent; expected price growth in 2020 of 3.3 percent

#4: Chattanooga, TN-GA – Expected sales growth in 2020 of 2.0 percent; expected price growth in 2020 of 3.6 percent

#5: Columbia, SC – Expected sales growth in 2020 of 5.5 percent; expected price drop in 2020 of 0.2 percent

#6: Rochester, NY – Expected sales growth in 2020 of 4.7 percent; expected price growth in 2020 of 0.4 percent

#7: Colorado Springs, CO – Expected sales drop in 2020 of 1.4 percent; expected price growth in 2020 of 6.3 percent

#8: Winston-Salem, NC – Expected sales growth in 2020 of 3.6 percent; expected price growth in 2020 of 0.5 percent

#9: Charleston-North Charleston, SC – Expected sales growth in 2020 of 1.2 percent; expected price growth in 2020 of 1.9 percent

#10: Memphis, TN-MS-AR – Expected sales growth in 2020 of 0.1 percent; expected price growth in 2020 of 3.0 percent

What Sets These Housing Markets Apart?

While these markets are all over the map in terms of locations, they do have some similarities that help set them apart from most other housing markets in the country. Some of the trends that are impacting the potential for these markets include:

  • Affordability: With housing prices rising, more Americans are looking for homes they can more easily afford. This is predominantly the reason why markets like Seattle, San Francisco, and Denver are missing from the top ten. In 2019, the average selling price for these 10 markets was $213,000, which is about 38 percent lower than the national average.
  • Job growth: According to Realtor.com, job growth for the top 10 cities on this list through 2019 was 2.1 percent, whereas the average U.S. job market remained flat, year over year.
  • Momentum: All 10 of the cities on this list had strong performances in 2019, so they’re entering 2020 with a good bit of momentum that’s not expected to stall any time soon. These markets had a median sale price increase of 6.5 percent in 2019, compared to 3.8 percent nationally.
  • Smaller markets: Although this list is compiled by comparing the 100 largest housing markets in the United States, those in the top 10 are among some of the smallest markets to qualify. The larger U.S. markets have simply become overheated due to several years of above-average price gains. This has now opened up smaller markets to start experiencing those types of trends.

Get the Leads You Need to Build a Stronger Presence in Your Market

Is your housing market predicted to be one of the hottest in 2020? If so, then get the mortgage leads you need to have a breakout year. RGR Marketing’s mortgage leads can provide you with the competitive edge you need to close more sales in 2020.

We provide you with exceptional quality leads that have been verified and validated for accuracy and quality by our experts, so your sales team can get to work immediately. Start the New Year off with an exclusive list of hot prospects in your sales funnel – contact RGR Marketing today!

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