Home News See the Full Rankings for WSJ/Realtor.com’s Fall Emerging Housing Markets Index

See the Full Rankings for WSJ/Realtor.com’s Fall Emerging Housing Markets Index

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Demand for homebuying remains strong in low-cost cities, but rising mortgage rates have made most homebuying unaffordable, pushing many buyers out of the market.Homes have been on the market longer and have more sellers price is being reduced.

To help homebuyers determine the best place to invest in a home, The Wall Street Journal Realtor.com We rank which housing markets offer a high return on investment and are expected to be good places to live.

The WSJ/Realtor.com Emerging Housing Markets Index looks at both real estate and non-housing indicators. This his seventh release contains the same set of indicators as before. payment in installmentsThe index is updated quarterly.

Why is Johnson City, Tennessee at the top of the list? Click here for details.

methodology

To identify the top emerging housing markets, Journal and Realtor.com reviewed data for the 300 most populous core-based demographic areas as measured by the U.S. Census Bureau. (Note: Both The Journal and Realtor.com are owned by their parent companies. news corp.)

The overall methodology examines two main areas: the real estate market (50%) and economic health (50%). These two areas consist of the following key metrics:

Real estate supply (16.6%)

A measure of the relative rarity of properties on the market compared to others based on the average number of days a property is listed on the market. Markets with high supply scores have relatively fewer days on the market than other regions. Its relatively limited supply could lead to higher home prices. In contrast, markets with low supply scores had more days on the market compared to other regions, indicating that relatively abundant supply could help ease pressure on home prices. (Source: Realtor.com)

Real estate demand (16.6%)

Measures the relative richness of real estate demand in a market compared to other markets based on the average number of unique viewers per real estate listing. Markets with high demand scores have relatively high unique viewers per home. This abundant buyer demand could lead to higher home prices. In contrast, markets with low demand scores have fewer unique viewers per property listing, indicating more limited buyer demand and less upward pressure on home prices. (Source: Realtor.com)

Median Home Listing Price Trend (16.6%)

Measures recent home price performance relative to other markets based on typical asking prices of active real estate listings on Realtor.com.

Unemployment rate (6.25%)

Measures the relative health of the local job market. Data consist of the estimated percentage of her private non-institutional population aged 16 and over who were unemployed during the reference period. The index adopts seasonally adjusted series. (Source: U.S. Bureau of Labor Statistics)

Wages (6.25%)

Measures the relative quality of employment in the region in terms of gross wages. Data consist of regular weekly average earnings of full-time wage earners before taxes and other deductions including overtime, commissions and tips. Does not include the self-employed. (Source: U.S. Bureau of Labor Statistics)

Local price parity (6.25%)

Measures the cost of living and working in a metropolitan area. RPP consists of the difference in price levels across metropolitan areas in a given year, expressed as a percentage of price levels across the country. RPP covers all consumer goods and services, including rent. (Source: U.S. Bureau of Economic Analysis)

Amenities (6.25%)

We measure local livability in terms of amenities available, as represented by chain stores known for ‘daily splurge’ purchases, a signal of consumer discretionary income. Data is, Starbucks, the number of stores per capita within the area of ​​Whole Foods and Trader Joe’s. (Source: WSJ analysis of public store locations)

Commuting (6.25%)

It measures quality of life in terms of how much time residents have to spend each day getting to and from work. Data consist of average one-way travel time for workers aged 16 and over who do not telecommute. (Source: U.S. Census Bureau)

Foreign-born resident (6.25%)

Studies measuring regional economic health and diversity as represented by the percentage of the population born outside the United States found a strong correlation between regional economic vitality and the number of foreign-born residents. is shown. (Source: U.S. Census Bureau)

SMEs (6.25%)

Measures the economic health and diversity of a region represented by small business activity. Data consist of number of her SBA 7(a) loans granted per capita. (Source: US Small Business Administration)

Property tax (6.25%)

Measures property taxes based on median home prices. Regions with higher effective property taxes rank lower, and regions with lower effective property taxes rank higher. (Source: U.S. Census Bureau)

final score

Each metric is indexed to normalize the data, and for each region these values ​​are added to produce a composite score. The totals are sorted to generate the final ranking. If two or more US metropolitan areas are tied on final score, the Real Estate Demand Index is used to break the tie.

Mail to Inti Pacheco [email protected]

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