A combination of soaring mortgage rates and already-high housing prices has softened demand for homes in many parts of the country.
That new reality has left many homeowners wondering if the value of their homes is about to tumble. Indeed, prices are falling in some areas.
However, in some markets, a major downturn in housing prices is unlikely.
Recently, financial website SmartAsset pored over data from 1998 to 2022 in 400 metro areas to determine which housing markets are poised for the most stable growth based on their history of solid price gains.
Following are the top markets they identified.
15. San Angelo, Texas
Total home price growth: 195.11% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
Nestled on the banks of the Concho River, San Angelo is a city of 100,000 that has earned praise as a great place to both work and retire.
14. Fort Worth-Arlington-Grapevine, Texas
Total home price growth: 201.68% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 1%, based on the historical data
The western stockyards of Fort Worth feature the world’s only twice-daily cattle drive.
13. Waco, Texas
Total home price growth: 196.93% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
In Waco, you can spend a day at the Texas Ranger Hall of Fame and Museum and relax afterward with a Dr Pepper, which was invented here.
12. Bismarck, North Dakota
Total home price growth: 198.19% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
The capital of North Dakota is a site on the Lewis and Clark National Historic Trail, where the Corps of Discovery camped along the Missouri River, which today separates Bismarck from the town of Mandan.
11. Billings, Montana
Total home price growth: 198.53% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
Billings is known as the gateway to both Yellowstone National Park and the Little Bighorn Battlefield National Monument.
10. Houston-The Woodlands-Sugar Land, Texas
Total home price growth: 203.9% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
Houston is a city that draws people from all over the country. It’s also among the “15 Cities With the Most Productive Workers.”
9. San Antonio-New Braunfels, Texas
Total home price growth: 204.11% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
San Antonio has a vibrant economy. It is also home to attractions such as the Alamo, SeaWorld San Antonio and Six Flags Fiesta Texas.
8. Dallas-Plano-Irving, Texas
Total home price growth: 213.13% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 1%, based on the historical data
By this time, you might have noticed a pattern: Texas cities are dominating this list. The Lone Star State has seen more newcomers than any other state for well over a decade.
7. Odessa, Texas
Total home price growth: 226.49% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 3%, based on the historical data
The oil industry is king in Odessa. The city is also home to Jack Ben Rabbit, an 8-foot-tall statue of a jackrabbit.
6. Rapid City, South Dakota
Total home price growth: 208.9% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
Rapid City is a hidden gem located about a half-hour from the Mount Rushmore National Memorial. Last year, it finished at No. 1 on the list of “10 Smaller Housing Markets That Are Now Red-Hot.”
5. Kennewick-Richland, Washington
Total home price growth: 211.07% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
This area is part of the Tri-Cities region, which actually has four cities including Pasco and West Richland. Since 2000, it has been the fastest-growing area in the state of Washington.
4. Fort Collins, Colorado
Total home price growth: 224.17% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 2%, based on the historical data
The beauty of the Rocky Mountains and educational opportunity — Colorado State University is here — make this an attractive place to live.
3. Boulder, Colorado
Total home price growth: 256.48% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 1%, based on the historical data
Boulder is the historic home of the University of Colorado, which now has four campuses across the state. It also finished No. 1 on the list of “The Top 10 Cutting-Edge U.S. Metros.”
2. Midland, Texas
Total home price growth: 255.5% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 0%, based on the historical data
This West Texas city lies halfway between Fort Worth and El Paso and is a great base for exploring the Big Bend National Park region.
1. Austin-Round Rock-Georgetown, Texas
Total home price growth: 353.92% from 1998 through 2022
Chance of experiencing a significant price decline within 10 years of purchasing a home: 2%, based on the historical data
Even with the incredible price growth in the Austin area over the past 25 years — more than 350% — droves of newcomers and new businesses help support housing prices and keep the future looking bright.
Chris Kissell,https://www.moneytalksnews.com/slideshows/housing-markets-that-are-most-likely-to-keep-their-value/
source https://ihomenews.com/15-housing-markets-that-are-most-likely-to-keep-their-value/
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