Each month, Home Value Forecast uses a number of leading real estate market-based indicators to monitor single-family home market activity in the nation’s top 200+ metropolitan areas (CBSAs) and report on the Top 10.
THE TOP 10
The Home Value Forecast Top 10 Hottest Housing Markets ranking system is purely objective and is based on directional trends over the past eight quarters. It’s not a listing of what markets are most expensive or most in need of inventory; it ranks market momentum at a specific point in time.
This month’s Top 10:
Oklahoma City, OK is a new entry into the Top 10. The metro prices had been relatively flat per square foot before the last few years.
Home prices are highly correlated to employment levels, so steady employment gains from 2013 – 2019 put major pressure on prices.
The pandemic dropped employment to 2012 levels before rebounding. With energy prices increasing and the pandemic (hopefully) waning, we believe both employment levels and home prices in Oklahoma City will continue to rise in 2022.
ABOUT PRO TECK’S MONTHLY HOUSING MARKET REPORT
The Home Value Forecast uses a ranking system that is purely objective and is based on directional trends of market indicators. Each indicator is given a score based on whether the trend is positive, negative or neutral for that series. For example, a declining trend in active listings would be positive, as would an increasing trend in average price. A composite score for each CBSA is calculated by summing the directional scores of each of its indicators.