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Housing markets in the top 5 fastest-growing cities
Dated: June 7 2024
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Housing markets in the top 5 fastest-growing cities | ||
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The U.S. Census Bureau released new data showing which areas gained the most new residents between July 2022 and July 2023. The four cities with the biggest population growth are in states that saw a large number of housing units added last year. Unsurprisingly, with 12.4 and 10.5 million homes, Texas and Florida, respectively, became the second and third states with the largest number of housing units in the nation. | ||
Here are the housing markets of the five fastest-growing cities: | ||
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Our take | ||
The cities with the biggest population growth had two factors in common: affordability and availability of inventory. Since the start of the pandemic, cities with affordable homes continue to attract the most new residents. Markets with more supply, whether from new construction or existing home sellers, generally offer a friendlier experience for buyers. They provide more options, milder competition, and more time to make an offer. |
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