32. Knock 2022 Housing Forecast Reveals the Best Markets for Each Stage of Life

Knock 2022 Housing Forecast Reveals the Best Markets for Each Stage of Life
Austin is the best market for millennials, Miami rises to the top for Gen X and Pittsburgh ranks No. 1 for baby boomers

NEW YORK, Thursday, Jan. 20, 2022 /PRNewswire/ -- With affordability and limited supply expected to keep the housing market competitive and remote work and the desire for more space influencing decisions on where to live, Knock, the fast-growing homeownership platform that makes all homebuyers Power Buyers, today released its ranking of the best housing markets by generation in 2022. Austin, Texas, ranks No. 1 for millennials, while Miami is the best market for Gen X and Pittsburgh tops the list for baby boomers. Two markets – Austin and Knoxville, Tenn. – are the only metros to make two lists.

"Although we do expect the housing market to moderate in 2022, homebuyers will continue to face many of the same challenges they did last year. Rising interest rates will offset any relief buyers get from slowing home price growth. The good news is the rise in remote work has given many people the freedom to rethink where they want to live, opening up options for those willing to explore new cities that offer relative affordability, growing economies and access to the amenities important to them," said Knock Co-Founder and CEO Sean Black.

To compile the list of top markets, Knock ranked the nation's 100 largest metropolitan areas based on affordability, the availability of housing stock and key attributes important at each stage of life. The analysis takes into account Knock's 2022 housing forecast which expects the national median sale price to grow 8% to $399,484 year-over-year, homes to sell in an average of 20 days down from 22 in 2021 and months of supply to fall 11% to 2.1, well below the average of four to five months in a balanced market.

With six of the top 10 millennial markets located in the South and two each in North Carolina and Texas, the top 10 millennial markets in rank order are: Austin, Texas; Des Moines, Iowa; Charleston, S.C.; San Antonio; Atlanta; Providence, R.I.; St. Louis; Winston-Salem, N.C.; Charlotte, N.C. and Spokane, Wash.

More geographically diverse than the best markets for its younger and older counterparts, the top 10 markets for Gen X in rank order are: Miami; Austin, Texas; Knoxville, Tenn.; Portland, Ore.; Boise, Idaho; Omaha, Neb.; Raleigh, N.C.; Phoenix; Salt Lake City and Boston.

Knock Media Release continued in the We Get Around Network Forum (www.WGANForum.com) here:

https://forum.we-get-around.com/topic/16275/page/1/knock-2022-housing-forecast-reveals-the-best-markets-for-each-stage-of-life/