Tucson, Arizona, Tops the List of 10 Hottest Housing Markets in 2020

At third from the top of hottest housing markets in 2020, Tucson, Arizona, is making a name for itself in the US national housing market. While the overall trend in the US housing market is generally cooling, Tucson and nine other cities are seeing strong growth in sales and prices.
Realtor.com created a list to highlight the 10 best-performing housing markets in 2020 and Tucson was on that list. According to Realtor.com, the hottest housing markets are listed below:
  • Boise, Idaho
  • McAllen-Edinburg-Mission, Texas
  • Tucson, Arizona
  • Chattanooga, Tennessee
  • Columbia, South Carolina
  • Rochester, New York
  • Colorado Springs, Colorado
  • Winston-Salem, North Carolina
  • Charleston-North Charleston, South Carolina
  • Memphis, Tennessee
Based on data, these 10 markets are trending towards an increase of 2.4% in the number of sales with home prices also rising an average of 3.1% in the next year. In contrast, national home sales are trending toward a decline. These numbers come from an analysis of 100 of the largest metros in the United States.
Economists are seeing a shift in how people look for homes. Both baby boomers and millennials are seeking homes in states and cities with a lower cost of living. This means that medium-sized cities are becoming ideal, due to affordability, economic growth, and job markets.
Another factor that places many of these cities on the list is that they are often located near more expensive or coastal cities. For example, Chattanooga and Memphis are more affordable options for people who are looking for Nashville alternatives. These “sister cities” are close enough to the larger cities to retain the benefits while being more affordable.
For Tucson, Arizona, the real estate market is clearly a seller’s market and the prices reflect that. Predictions for 2020 include that home value will increase by 3%. At the moment, the average selling price is $217,000, which is a 4.2% increase since last year.
In recent years, Tucson has reinvented itself after the recession by prioritizing a business-friendly climate, which has attracted new companies including Caterpillar. Coupled with the weather and affordability, Tucson is a go-to option for out-of-state buyers and buyers from nearby Phoenix. Downtown Tucson is also navigable, offers farm-to-table restaurants, and streetcar options.

Land & Lot Reports

Tags

1926 Circle of Excellence for 2020 2017 2019 land report 2020 economic projections 2020 economy 3 Benefits of Planting Native Vegetation aerial allure of land Apache Junction architect area Arizona arizona activities arizona eating Arizona economy arizona events Arizona home owners arizona land report Arizona living arizona real estate arizona realty arizona restaurants arizona summer activities arizona summer events backyard benefits of planting native vegetation best golf courses best golf courses in Arizona best golf courses in Tucson best hikes in tucson best hiking best hiking trail of Tucson best hiking trails best home decor best home details best housing markets best lights best night lights best night time lights best of Tucson best real estate best real estate market best takeout in Tucson Bisbee blueprint blueprints breweries breweries in Tucson Arizona buildable builder building building a home building house built-in desks built-in details built-in shelves burger buying homes buying land buying land in Tucson buying real estate buying real estate in tucson buying Tucson lots carpet change order cinema room classic car construction construction loan construction permit construction plan construction plans cooling coronado forest cost country custom home building custom homes deed restrictions desert garden desert gardening design design guidelines design guidelines for a Subdivision Development diy home improvement dream home dream kitchen easements eatery eating eating in tuscon economic outlook economic projections economics elevation energy efficient events film festivals film festivals in Tucson fireplace flood flood insurance floodplain Flooring food food tours foreclosure geologic language golf courses golf courses in Arizona golf courses in Tucson gps habitat health heated floors heating hidden room hikes hiking historical hobby room holiday events home home blueprint home blueprints home builder Home building home decor home decorations home details home improvement home owners home plan home size house house blueprints house details houseplants housing markets how to buy how to buy land how to make your neighborhood safer hvac industrial style interior design internet internet in Tucson internet providers in Tucson laminate land land parcel land report land use land use in Tucson land zoning living in Tucson loan program lot lots man cave march land report measurement mexican minimalist modern mortgage movie bluff movie room moving mudroom national park native vegetation neighborhood new home new year night lights non-invasive plants Old West organization packing permit permit needed permits preventing erosion property property in Arizona property in Tucson property listings property report purchasing residential land real estate real estate in Arizona real estate market real estate report realtor tucson recessed light remote work remote work in Arizona remote work in Tucson remote working residential land resolution restaurant riperian riperian habitat rooms run rural Tucson safe neighborhood salad sales salt lamp Scottsdale selling real estate slope spa spa room specialty rooms steak stone style subdivisions Summer summer activities summer events sun exposure takeout Technology theatre things to do in arizona things to do in tucson things to do in tuscon topography travel traveling Tucson Tucson 2020 economy tucson activities Tucson Arizona tucson christmas Tucson economy tucson events Tucson home owners Tucson housing market tucson land tucson land for sale tucson land loans tucson land report Tucson lifestyle Tucson living tucson lot loans tucson lots tucson mountains Tucson national parks tucson real estate Tucson real estate market tucson realty tucson summer tucson summer events Tucson vegetation tuscon land report unusable land Upgrades upgrading your home upgrading your interior useable land vacant land vacant land design guidelines vacant land guidelines vacant land tucson vacant Tucson lots vacation vegetation views vintage walk warranty Wash what to do in Tucson where to eat where to eat in Arizona working in Tucson working remote in Tucson working remotely zip codes zones zoning

Sign Up for News

Sign Up

Featured Listing