In Less Than a Year, You’ll Regret Not Having Bought Property in These 20 Housing Markets - MASHAHER

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The pandemic sent the U.S. housing market into a spiral. Skyrocketing demand, inflation, rising interest rates, and dwindling supply have resulted in higher home prices.

Check Out: Housing Market 2024 — Home Prices Are Plummeting in 10 Formerly Overpriced Housing Markets

However, some housing markets in the South and Gulf areas are pretty “cool” at the moment. While no U.S. housing market has been immune to high home prices and rising interest rates, owning homes in these regions faces an additional hurdle. Homeowners’ insurance premiums have risen, which has made owning a home in these areas more expensive.

At the same time, the supply of single-family homes in the South and Gulf Coast is on the rise with new construction outpacing that of the Northeast and Midwest. The opportunity for buyers to score better deals increases in this situation since sellers are more likely to meet buyers halfway.

There are 20 metro areas in particular with “cool” housing markets that are slated for significant growth. Now might be the moment to jump in before these areas turn “hot.”

Learn More: 10 Dangerous Cities You Shouldn’t Buy a Home in No Matter the Price

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20 ‘Cold’ Housing Markets Where You Can Score a Bargain

Here are 20 housing markets where you have the opportunity to score a bargain in the current housing market, according to Realtor.com. Many of these cities have future upside potential. Each housing market is ranked by three indicators: “supply score,” “demand score” and “hotness score.” The “hotness” score is an equally weighted composite metric of a region’s “supply score” and “demand score.” Realtor.com regularly rates the 300 largest metro areas in the U.S. and these are currently the “coolest” housing markets where you may be able to snag a deal:

1. Lake Charles, Louisiana

Supply Score: 0.3
Demand Score: 0.7
Hotness Score: 0.5

2. Houma-Thibodaux, Louisiana

Supply Score: 2.0
Demand Score: 0.3
Hotness Score: 1.2

3. Panama City, Florida

Supply Score: 1.7
Demand Score: 2.3
Hotness Score: 2.0

4. Punta Gorda, Florida

Supply Score: 1.3
Demand Score: 2.7
Hotness Score: 2.0

5. Naples-Marco Island, Florida

Supply Score: 0.3
Demand Score: 5.0
Hotness Score: 2.7

6. Cape Coral-Fort Myers, Florida

Supply Score: 2.3
Demand Score: 3.3
Hotness Score: 2.8

7. McAllen-Edinburg-Mission, Texas

Supply Score: 5.0
Demand Score: 1.7
Hotness Score: 3.3

8. Miami-Fort Lauderdale-Pompano Beach, Florida

Supply Score: 5.0
Demand Score: 5.7
Hotness Score: 5.4

9. Brownsville-Harlingen, Texas

Supply Score: 2.7
Demand Score: 9.0
Hotness Score: 5.9

10. Las Cruces, New Mexico

Supply Score: 6.7
Demand Score: 5.4
Hotness Score: 6.0

11. Phoenix-Mesa-Chandler, Arizona

Supply Score: 6.7
Demand Score: 6.0
Hotness Score: 6.4

12. Albany, Georgia

Supply Score: 0.0
Demand Score: 13.7
Hotness Score: 6.9

13. Lafayette, Louisiana

Supply Score: 8.4
Demand Score: 6.4
Hotness Score: 7.4

14. Crestview-Fort Walton Beach-Destin, Florida

Supply Score: 4.3
Demand Score: 11.4
Hotness Score: 7.9

15. El Paso, Texas

Supply Score: 15.4
Demand Score: 1.3
Hotness Score: 8.4

16. Honolulu, Hawaii

Supply Score: 13.4
Demand Score: 4.0
Hotness Score: 8.7

17. Lakeland-Winter Haven, Florida

Supply Score: 9.7
Demand Score: 8.0
Hotness Score: 8.9

18. Deltona-Daytona Beach-Ormond Beach, Florida

Supply Score: 6.4
Demand Score: 11.7
Hotness Score: 9.0

19. Daphne-Fairhope-Foley, Alabama

Supply Score: 4.7
Demand Score: 17.4
Hotness Score: 11.0

20. Corpus Christi, Texas

Supply Score: 3.7
Demand Score: 19.7
Hotness Score: 11.7

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In Less Than a Year, You’ll Regret Not Having Bought Property in These 20 Housing Markets – MASHAHER