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These are the 10 states with America’s most stable housing markets

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The three most important things in real estate: place, place, place. And the US real estate market is now in a strange place.

Mortgage rates It’s almost doubled from a year ago, reflecting the Federal Reserve’s campaign to curb inflation.But they are also volatilityIncludes a sharp drop weekly.

House prices remain historically high, with bidding wars reported in some places. Inventory of homes for sale begins to increase And the national housing market, including some of the largest in the following states, is starting to cool.

Where is everything going? Realtor.com recently revised 2022 weatherThis year, we are asking for a 6.7% reduction in sales. Forecasters previously sought an increase of 6.6%. But even if the new forecast applies, it’s the second-largest sales since 2007, just following last year.

As always, some states will do better than others.CNBC’s because companies are considering the local housing market in their location decisions Top American Business State The survey measures the health of each state’s housing market as part of a broader economic category. That’s 13% of the state-wide score this year. methodology.. Housing indicators take into account year-over-year price increases, annual new construction, and first-quarter foreclosures and bankruptcies.

Looking for a safe place to survive a potential housing storm? These 10 states are the most stable.

10. South Dakota

Deadwood, South Dakota

John Elk | Image Bank | Getty Images

Solid economy Mount Rushmore Prices are rising steadily. Foreclosure activity is very low, but rising levels of underwater mortgages can foresee some underwater cracks.

2022 Economic Rank: No. 12 (Top state grade: B-)

Thanks: Thanks: 20.1%

Number of starts per 1,000 people: 8.8

Foreclosure rate: 1 in 17,724

Underwater Mortgage: 4.8%

9. South Carolina

The contractor will work on the roof of a house under construction in the Stillpoint district of Sumter, South Carolina, on Tuesday, July 6, 2021.

Mica Green | Bloomberg | Getty Images

Inventories are still historically tight and bidding wars are still common to many. South Carolina Markets, and prices are still rising steadily. However, new construction is on the rise, reducing stress on existing loans.

2022 Economic Rank: No. 13 (tie) (top state grade: B-)

Thanks: Thanks: 21.4%

Number of starts per 1,000 people: 9.5

Foreclosure rate: 1 in 1,081

Underwater Mortgage: 3.4%

8. Arizona

Workers build new homes in housing development in Phoenix, Arizona.

Justin Sullivan | Getty Images

Prices are skyrocketing here more than any other state.However, new construction is also booming and is helping to mitigate. ArizonaStock crunch. Increasing foreclosures are a potential source of concern, but housing equity is strong.

2022 Economic Rank: No. 22 (tie) (top state grade: C-)

Thanks: Thanks: 27.4%

Number of starts per 1,000 people: 9

Foreclosure rate: 1 in 1,861

Underwater Mortgage: 1.4%

7. Vermont

A traditional home in Vermont.

Gerard Shioen | Getty Images

6. Tennessee

Home in Nashville, Tennessee.

Isabella Pino | Universal Images Group | Getty Images

Tennessee It is the second strongest country in the economy as a whole, largely because of its strong and stable housing market. House prices are skyrocketing with economic production. Foreclosures and underwater mortgages are starting to creep in, but new construction is healthy.

2022 Economic Rank: No. 2 (Top state grade: A +)

Thanks: Thanks: 24.1%

Number of starts per 1,000 people: 8.2 8.2

Foreclosure rate: 1 in 2,797

Underwater Mortgage: 2.9%

5. Aidaho

“New Home” sign near the CBH Homes Tongchuan Basin community in Nampa, Idaho, October 19, 2021.

Kyle Greene | Bloomberg | Getty Images

IdahoThe housing market has been in turmoil for some time. Buying a home in Gemstate is not for the weak. However, new construction is slowly beginning to ease inventory pressure. Increasing foreclosures are a potential warning sign if the economy goes into recession.

2022 Economic Rank: No. 5 (Top state grade: A)

Thanks: Thanks: 27%

Number of starts per 1,000 people: 10.5

Foreclosure rate: 1 in 6,015 units

Underwater Mortgage: 1.6%

4. Texas

Residential area in Austin, Texas, Sunday, May 22, 2022.

Jordan Fondahar | Bloomberg | Getty Images

TexasPopulation growth is driving the housing boom, but it’s not uncontrollable. New homes for those new residents are springing up rapidly and the fairness of the homes is good.

2022 Economic Rank: No. 8 (Top state grade: A-)

Thanks: Thanks: 19.3%

Number of starts per 1,000 people: 8.9

Foreclosure rate: 1 in 2,326

Underwater Mortgage: 2.5%

3. Florida

Single-family home sign available in St. Cloud, Florida.

Jeff Greenberg | Universal Images Group | Getty Images

It’s almost all sunlight and light FloridaHousing market. Prices are skyrocketing, but so are construction workers. Increasing foreclosure rates in states known for the boom and bust cycle could be clouds on the horizon.

2022 Economic Rank: No. 4 (Top state grade: A)

Thanks: Thanks: 25.7%

Number of starts per 1,000 people: 9.6

Foreclosure rate: 1 in 1,211

Underwater Mortgage: 1.4%

2. Washington

On May 14, 2021, a “for sale” sign was posted outside a home in the Queen Anne district of Seattle, Washington.

Karen Ducy | Reuters

WashingtonThe remarkable economic growth has kept the housing market the hottest in the country for several years, against the prediction of an accident. The shortage of new construction probably keeps prices high, and concerns continue about how stable the market is.

2022 Economic Rank: No. 3 (Top state grade: A)

Thanks: Thanks: 20.1%

Number of starts per 1,000 people: 7.3

Foreclosure rate: 1 in 4,965

Underwater Mortgage: 1.2%

1. Utah

During the construction of a house in Saratoga Springs, Utah, a worker used a Volvo AB excavator to build a road.

George Frey | Bloomberg | Getty Images

By all accounts, the Beehive housing market is vibrant. Prices are rising at the second highest rate in the country, but with the fastest pace of new construction in the country, there are many new inventories. Utah.. Mortgage flows are manageable and housing fairness is strong in the top housing markets across the country.

2022 Economic Rank: No. 6 (Top state grade: A)

Thanks: Thanks: 27.1%

Number of starts per 1,000 people: 12.2

Foreclosure rate: 1 in 2,063

Underwater Mortgage: 1.4%

Data Sources: CNBC America’s Top States for Business study, Federal Housing Finance Agency, US Census Bureau, ATTOM Data Solutions

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