DALLAS (KDAF) — Buying a house is always in the mind of new families, and even singles who want their own property to start the process of settling down, if that’s their choice, of course. But, where do people need to be looking to buy in 2023?
Well, Realtor has recently released a new report on the top housing markets for 2023, and wouldn’t you believe that a Texas city has been ranked the No. 2 spot? If you’re believing, you’re right, Realtor reports El Paso, Texas is the second-best housing market position for growth next year.
The report said, “Similarly, El Paso’s $291,000 median price in October 2022 was not only well-below the U.S. median, but a relative bargain for buyers from Phoenix, Dallas-Fort Worth, or Salt Lake City, the three top metros which led the list of out-of-metro views. Mirroring traffic patterns that show the attractiveness of the Lone Star state to non-residents, 53.9% of Realtor.com views to El Paso came from outside Texas and alongside the nearly 10% from other parts of the state combined for a total of two-thirds of the El Paso market’s home shopping traffic from somewhere else (66.8%).”
Here’s what you can expect from El Paso’s housing market in 2023:
- November 2022 median home price: $291,000
- Home price change: +5.4%
- Sales change: +8.9%
- Combined sales and price growth: +14.3%
While El Paso was the lone representative of the Lone Star State in the top 10, there were other cities with housing markets poised for a good 2023:
- Houston-The Woodlands-Sugar Land – No. 30
- San Antonio-New Braunfels – No. 31
- Dallas-Fort Worth-Arlington – No. 48
- McAllen-Edinburg-Mission – No. 54
- Austin-Round Rock – No. 80