FAYETTEVILLE, Ark. (KWNA/KFTA) — Fayetteville, Ark. and the Northwest Arkansas area were named a top 10 housing market for 2022 as a part of the National Association of Realtors’ “Hidden Gems” list at their third annual year-end Real Estate Forecast Summit on Wednesday, Dec. 15.
The “hidden gems”” are expected to experience stronger price appreciation relative to other markets, a press release said.
The NAR’s 10 listed cities are:
- Dallas-Fort Worth, Texas
- Daphne-Fairhope-Farley, Alabama
- Fayetteville-Springdale-Rogers, Arkansas-Missouri
- Huntsville, Alabama
- Knoxville, Tennessee
- Palm Bay-Melbourne-Titusville, Florida
- Pensacola-Ferry Pass-Brent, Florida
- San Antonio-New Braunfels, Texas
- Spartanburg, South Carolina
- Tucson, Arizona
Markets were considered based on two categories: one was if the market’s ratio of median home price to median family income is in the lower half of the 379 metro areas analyzed, and the other was if seven indicators are in the upper half of metro areas and reflect the housing demand strength for that particular market.
The indicators include wage and job growth, the ratio of population change to the sum of housing permits, general population growth, net domestic migration, the percentage of population ages 25-44, and the percentage of households with broadband service.
NAR notes that their list only includes metro areas with a populations of at least 200,000.
Fayetteville, Dallas-Fort Worth, Knoxville, San Antonio and Spartanburg joined the list for 2022.