Source: Islander Media Group, Inc. —
In 2022, housing markets across the U.S. are still experiencing the unprecedented demand that arose during the early stages of the pandemic nearly two years ago. According to the National Association of Realtors, home values increased by 16.9% in 2021, the highest year-over-year increase since 1999. This elevated demand is pressuring waning real estate supply, with no sign of stopping in the new year, as the median American home sales price hit a new record high of $358,000 in December.
Home availability and affordability affects practically every prospective homebuyer in America, so the data scientists at Insurify sought to identify the housing markets soaring highest at the start of the new year. Insurify’s research team referred to national real estate data to determine the twenty hottest home markets in 2022.