4 Alabama Metros Rank Among Nation’s Hottest Real Estate Markets
May 24, 2023
Four Alabama metro areas are among a new ranking of the nation’s hottest real estate markets, as analysts say the Southeast is seeing home values hold steady as buyers are fleeing more expensive zip codes.
Bankrate, the financial tools site, is out with the list, which analyzed 212 metro areas, looking at appreciation of home values, employment levels, job growth, population trends, homes listed for sale and typical selling times.
Eighteen of the 20 hottest markets are located in the South, with cities in Georgia, Tennessee, Florida and North Carolina atop the list of the strongest seller’s markets.
The hottest market, according to Bankrate, is Gainesville, Ga., about 50 miles northeast of Atlanta, with an annual home price appreciation of 21.1 percent, according to the Federal Housing Finance Agency.
Coming in second is Knoxville, Tenn., followed by Cape Coral–Fort Myers, Fla.; North Port–Sarasota–Bradenton, Fla., and Charlotte, N.C.
Among Alabama metros, Huntsville leads the way, ranking as the 78th hottest metro market. The Rocket City ranked No. 2 in unemployment, and 24th in population change.
Close behind is Montgomery, ranking 86th. The state capital ranked in the top 50 for unemployment and appreciation.
Birmingham-Hoover ranks 169th, posting 10th overall in unemployment, but 206th in overall job growth.
Mobile was 182nd, ranking 41st in unemployment, but 169th in job growth.
Source: 4 Alabama Metros Rank Among Nation’s Hottest Real Estate Markets AL.com (May 23, 2023) William Thornton