The Realtor.com® economics team and the Wall Street Journal’s data team identified the top markets of 2021, and beyond, in the Emerging Housing Markets Index.
They identified the areas with strong housing demand and rising prices combined with robust economies, lots of good-paying jobs, and the amenities that make a place desirable. These markets have lots of restaurants, bars, and shops as well as reasonable commutes to work.
The top markets are a mix of higher-end, outdoorsy, resort areas; smaller cities that have been growing at a breakneck pace; and places that provide a more affordable alternative to larger urban areas that are still within commuting distance.
Their economies are generally doing better than other markets, and they’re attracting a lot of home shoppers from other areas—likely in part due to the relatively widespread work-from-home flexibility in response to the pandemic.
Housing trends in these markets have fundamentals that should mean buying a home is a good investment.
The top real estate markets of 2021
(1) Coeur d’Alene, ID, $799,000
(2) Austin, TX, $520,000
(3) Springfield, OH, $144,900
(4) Billings, MT, $428,500
(5) Spokane, WA, $434,900
(6) Lafayette, IN, $297,450
(7) Reno, NV, $562,000
(8) Concord, NH, $362,450
(9) Manchester, NH, $419,950
(10) Santa Cruz, CA, $1,222,000