Texas Takes Two Spots on List of 2022’s Hottest Housing Markets

National Mortgage News’ 12 hottest housing markets in 2022 list includes two Texas metros: Austin in fourth place and Dallas-Fort Worth in seventh place.

The list cited Austin as having a 5-year annual projected population growth in 2022 of two percent, a 5-year annual projected employment growth in 2022 of 2.4 percent, and a 5-year annual projected household growth in 2022 of 2.6 percent.

“Basically, it’s all job growth. The more jobs coming in, the hotter the market,” said Joel Richardson, branch manager and senior loan officer at PrimeLending, in the report. “Austin’s getting a lot of high-tech jobs moving in. Everyone knows Tesla announced their headquarters move here but they’re building a factory, so that brings a lot of working-class jobs here too. And then the Googles and the Facebooks, all those types of high tech kind of companies are moving here and moving people here so we’re seeing a lot of inflow from out of state.”

He said, “We’re also seeing a lot of investors here, both individual and institutional, buying houses and putting strain on the market by pinching the affordability.”

Dallas’ five-year annual projected population, employment, and household growth rates in 2022 are 1.4 percent, 1.6 percent, and 1.8 percent, respectively, and the report cited multiple offers on homes for sale in the region as a recent norm.

The full rankings included Nashville, Tennessee in first place, followed by Raleigh-Durham, North Carolina; Phoenix, Arizona; Austin, Texas; Tampa-St. Petersburg, Florida; Charlotte, North Carolina; Dallas-Fort Worth, Texas; Atlanta, Georgia; Seattle, Washington; Boston, Massachusetts; Salt Lake City, Utah; and Denver, Colorado, respectively.