Smaller towns saw robust demand for second homes.
Mountain-West Region = Hottest Housing Market in Country in 2021
Unusually strong homebuyer interest in the Mountain-West region of the US made it the hottest housing market in the country during 2021.
According to the S&P CoreLogic Case-Shiller Price Index, home prices in Phoenix soared +32.5% y/y. Home price appreciation in Denver soared +109% compared to August 2006, Boise real estate appreciated +22% in 2021, according to the CoreLogic Home Price Insights Report, and average homeowner equity in Boise jumped +$64,000 from December 2020 to December 2021.
Quiz:
Please choose one answer:
1) I am ready to join EXP Realty.
2) I am interested in EXP Realty and need more info.
3) I am not interested in EXP Realty.
Key:
* If you answered “#1” congratulations. You are about to join the fastest-growing real estate company in the world. Tim and Julie Harris are inviting you to join them at EXP Realty. Text Tim directly for the next steps: 512-758-0206. (text only please)
* If you answered “#2” please watch the videos and check out the other intel on this site. http://whylibertas.com/harris .
* If you answered ‘#3’ no worries. You will want to check out whylibertas.com/harris so you can at least know what EXP Realty is and why so many agents are moving to EXP.
Appealing Factors of Mountain-West Region
The Mountain-West is a reliable bet for investors and individual homebuyers alike. The region’s housing market is fundamentally sound with its decades-long steady population growth and wage increases.
Additionally, the Mountain-West is a strong relocation hub for those priced out of expensive cities on the West Coast. The Mountain-West has a healthy supply of detached single-family homes that are both affordable enough and large enough to accommodate remote working and learning. And the Mountain-West region of the country offers low density and high outdoor amenity-living with relatively easy access to hiking, biking, skiing, climbing, fishing and boating… amenities that have become increasingly important to buyers, renters and investors over these last two years.
Top 10 Locations to Gain Home Equity in 2021
CoreLogic’s most recent Home Equity Report shows that the real estate boom has gone beyond the suburbs. The top 10 locations in terms of home equity gains include both metro areas with an urbanized population of more than 50,000 and micropolitan areas with an urbanized population of 10,000-50,000.
Half of the locations on this top 10 list were in the Mountain-West and close to ski resorts:
CBSAs Ave. Equity Q4 ’21 Q4 2020-Q4 2021 Change
Summit Park UT $981,200 $264,200
San Jose/Sunnyvale CA $1,109,100 $213,500
Key West FL $657,700 $212,700
Edwards CO $960,400 $185,700
Heber UT $514,200 $178,600
Santa Cruz/Watsonville CA $822,500 $174,000
Santa Maria/Santa Barbara $685,500 $173,300
Haley ID $789,700 $166,500
Naples/Immokalee FL $462,900 $165,500
Breckenridge CAO $664,400 $164,100
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Thanks to CoreLogic.
