Few, Fluctuating, and Far Between—Here Are America’s Most Stable Markets

Even as prices inch toward new highs and bidding wars screech to a halt in some overheated markets across the country, other locations are still seeing strong sales and flourishing new construction activity. According to CNBC, Utah is home to the nation’s most stable housing market with the fastest pace of new construction and 27.1% year-over-year home price appreciation. Following closely behind is Washington, where strong economic growth continues to attract droves of new homebuyers but a dearth of new home construction is keeping prices high. 

Florida is also seeing strong homebuying activity with 25.7% annual home price appreciation and surging new construction starts, but the Sunshine State is also seeing a rise in its foreclosure rates, which has some worried that a bust could be on the horizon. 

Home prices remain stuck at historic highs with bidding wars reported in some places, even as the inventory of homes for sale begins to grow and housing markets across the country, including some of the biggest in the states below, begin to cool.

Where is everything heading? Realtor.com recently revised its 2022 forecast, now calling for sales to decline by 6.7% this year. Forecasters previously called for a 6.6% increase. But even if the new forecast holds true, it would still be the second biggest sales year since 2007, only trailing last year.

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