It’s important to be aware of what is happening in our local Atlanta Real Estate Market, but it’s also incredibly valuable to look at what is happening nationwide, and how the repercussions of Covid are still in play today.
COVID didn’t just radically change the way companies and employees operate, it has also brought about serious change in residential real estate trends.
Large cities, which previously dominated the list of the country’s top real estate markets, are losing some appeal as people realize that working from anywhere, escaping crowds, and spending less is possible. Which, of course, has created more demand for smaller metro areas, and suburban dwellings.
The two top cities in PwC’s 2022 Emerging Trends in Real Estate report have populations of less than 2.5 million. Former stalwarts like Los Angeles, San Francisco, and Washington DC, on the other hand, have all failed to make the top 10. The report sums it up best:
“The pandemic stopped a lot of people in their tracks, but also set many in motion,” the report says. “People freed to work remotely realized that they could beam into their meetings from 1,000 miles away just as easily as ten. No wonder, then, that almost all of this year’s survey of top-ranked real estate markets are in faster growing southern and western regions and away from the coasts.” – 2022 Emerging Trends in Real Estate report
Here are PwC’s top-ranked real estate markets for 2022:
1. Nashville
2. Raleigh/Durham
3. Phoenix
4. Austin
5. Tampa/St. Petersburg
6. Charlotte
7. Dallas/Fort Worth
8. Atlanta
9. Seattle
10. Boston
For people looking to build new homes, the report recommends these cities:
1. Raleigh/Durham
2. Tampa/St. Petersburg
3. Phoenix
4. Dallas/Fort Worth
5. Austin
6. Denver
7. Charlotte
8. San Antonio
9. Atlanta
10. Washington, D.C.–Northern Va.
Want to know more? Karen would love to meet with you and discuss what you need to know about the market. If you are ready to find your next home, or are considering listing your home, get in touch with Karen. She would love to help you with your plans.
