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5 New-Home Markets to Watch in 2022

Friday, December 17, 2021   /   by Ken Couture

5 New-Home Markets to Watch in 2022

5 New-Home Markets to Watch in 2022.png
Building a new home is considered the solution to the housing stock crisis. However, even when buyers are in high demand, it is difficult for builders to accelerate construction due to continued labor shortages, land and materials shortages. When it comes to adding new homes to the housing pipeline, some markets are better than others. 
 Zonda, a home and apartment data company, recently selected five cities in the United States as target markets for new home sales in 2022. They took into account sales performance, housing construction challenges this year and 2020, and market indicators for predicting the best subway outlook for the new housing construction market for the new year.
The five new domestic markets on Zonda's list are 4,444

1. Austin, Texas 4,444 startups hit record highs. According to Zonda, Austin's new home prices are rising 27% each year. "COVID restrictions across Texas were much less stringent than in other parts of the country," Brian Grasshagel, Senior Vice President of Zonda Advisory, told BUILDER. "Prices have risen sharply due to strong demand and new residents moving to Austin with stocks from other markets. Home offices and limited supply have furthered growth into the new fringes of the market. If you don't commute five days a week, people will look a little further. 
 
2. Charlotte, NC, 
 
House prices in Charlotte, NC are considered cheaper than many other metropolis markets, which has attracted more people there, especially since the pandemic began. You can now move. The booming employment sector is also attracting new residents. "I'm optimistic about 2022 and 2023," said Shaun McCutcheon, vice president of Zonda Advisory. "Employment growth is likely to be strong and retirees will continue to move here. Affordability will continue to be considered. Products will be smaller, lots will be smaller, installed and builders will be farther away. I will explore the place where I was fired. "

3. According to data from Salt Lake City 
 
Zonda, annual sales of new homes have increased by 25% since the third quarter of 2020. .. Salt Lake City has been another city of great growth since the beginning of the pandemic, where other cities have fled the expensive coastal areas in search of more affordable and entertaining options. "Many people sell very expensive homes in California, the east, or the Pacific Northwest. They bring in all their assets and pay cash to homes over $ 700,000. This is the price. It had a big impact on the setting. "Eric Allen, Zonda's regional director for Salt Lake City, told the builder. Average prices for single-family homes in Salt Lake City have risen 13% each year to $ 465,000, according to Zonda data. 
 
4. Seattle 
 
Much of Seattle may be cramped, but new home construction is still finding its way. According to Zonda, home prices have risen by at least 25% since the outbreak of the pandemic in all counties of Seattle's Puget Sound. The rise of telework has allowed more city technicians to move out of the metropolitan area to find shelters in remote areas of Seattle. "Townhouses are becoming more and more popular in traditionally rural and less densely populated markets," Mark Zawistsky, director of the Zonda region of the Pacific Northwest, told Builders. 
 
5. Tampa, Florida 
 
Zonda reports that the annual pace of construction of the Tampa market has risen by 30% in the 18 months that began shortly before the 2020 COVID 19 pandemic. In 2021 alone, the list price of new buildings has risen by more than 20%. The baby boomer generation is responsible for most of the growth in the region. However, "migration comes from all parts of the United States, most of which come from the northeast and the Central Atlantic," says Tony Polito,  regional director of Zonda's Central Florida / Tampa. "Because these are more expensive markets than Florida,  buyers are replacing homes sold in Tampa with cheaper alternatives. It's also what locals consider expensive, It means what we consider to be affordable. Pure demand from migration growth combined with limited supply has pushed the prices of both new homes and resale properties to record levels. I did. "


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