At first glance, a headline pronouncing that the “hottest housing markets” don’t include any Texas cities could drive house hunters to dream of a white Christmas up north or on the East Coast.
Dallas-Fort Worth was not among the top 10 metro housing markets for October. In fact, no Texas city showed up in the top 20, according to a Realtor.com report.
The No. 1 U.S. housing market for the 11th consecutive month is Manchester, N.H., an hour north of Boston, according to the report.
It’s followed by Rochester, N.Y., and Burlington, Vt. The top 10 is rounded out by metro areas in Wisconsin, Ohio, Connecticut, Indiana, Kansas, and Massachusetts.
There’s one thing these places have in common, and it’s ironic that they’re called the “hottest housing markets in the U.S.”
They’re all in cold climates, pointed out Realtor.com economic data analyst Hannah Jones.
“In the South and West, which contain warm markets that were really popular even before the pandemic, prices have just been driven so high,” Jones said. “Even if they’re places people might enjoy living, many buyers have been priced out.”
Baby, It’s Cold Outside
So let’s dig a little deeper.
The median list price for a single-family home in Manchester, N.H., was $495,000 in October. It’s lower in Dallas, by the way, at $460,000, even though that’s an increase of 15 percent year-over-year.
So what exactly qualifies a metro market as one of the hottest in the U.S.?
Rankings are based on Realtor.com views in these metro areas and how quickly properties are selling.
Realtors often tell Daltxrealestate.com that people are still moving to Texas — for career opportunities, good schools, and no state income tax.
The cost of living in Dallas is 8 percent lower than the national average, according to Redfin.
And while housing affordability and availability are questionable this year, we’re putting a lot of stock in National Association of Home Builders Chief Economist Rob Dietz’s report that the Dallas housing market will surge in 2024.
It’s Also Cold in Dallas, Right?
Ask a native Texan if everything is bigger in the Lone Star State and you’ll likely get an answer along the lines of, “And better.”
So we’ll take our long, hot summers, thank you very much.
And for those who love sweater weather, there’s plenty of that to go around in December through February, lest we forget last year’s snowpocalypse.
Dallas doesn’t need a headline or national ranking to know it’s a great place to live. The city currently boasts dozens of listings from multi-million-dollar homes to affordable properties. City leaders talk constantly about the need for missing-middle housing and what they plan to do about it.
So to those who are worried that Dallas didn’t make the top 20 hottest housing markets, just chill. There’s good news for local housing on the horizon.
