Source: Yahoo! Finance —
There are some savvy money moves to make if you earn $5,000 a month, including saving up to buy a home. However, the real estate market has been volatile in recent years, meaning there are a lot of unpredictable factors folks have to consider.
One of them is where you purchase your property, as some markets are poised to become hard-hit if there’s a recession. Here’s where and why.
15. Orlando, Florida
Coming in at No. 15 is Orlando, the first of several Florida cities on this list. Migration in the area was on the higher side in 2021, plus a higher percentage of properties in Orlando are second homes, 8.7%.
14. Knoxville, Tennessee
Knoxville takes the No. 14 spot in large part because migration to the area was high in 2021, with more than 4,500 new residents being added to the mix. Prices also grew steadily in 2021, though they cooled significantly more quickly than in Orlando in 2022.
Residents also have a high home-loan-to-value ratio in Knoxville, as do all of the cities on this list.
13. Stockton, California
Stockton is not a place where a lot of people buy second homes, but its proximity to the pricey San Francisco Bay Area makes it a popular place for migration. That’s likely part of the reason property prices rose 19.3% throughout 2021.
Unfortunately, those prices cooled extremely fast in the first half of 2022, which isn’t good news for folks who bought in.
12. Jacksonville, Florida
In the northeast corner of Florida is Jacksonville, which gained over 4,000 new residents in 2021. New residents along with a higher-than-average rate of flips and vacation homes in the region drove real estate prices up a fair deal in 2021.
Unlike Stockton, however, Jacksonville house prices didn’t drop quickly in early 2022, which is a good sign.
11. San Diego, California
The gorgeous climate and location on the Pacific coast have made San Diego an extremely desirable place to live, historically driving up home prices. They increased by 17.5% in 2021, which is not an insignificant number.
