Which states offer the strongest housing markets in the U.S.?

Gulfport, MS beach | mortgage rate news

Which states offer homebuyers the best value?

Finding an affordable home in the current housing market can be a challenge, but there are a few states ahead of the game. A recent report surveyed the current conditions and ranked the states by price appreciation, housing starts, foreclosure rates, and affordability.

Coming in at the top of the list? Florida offers the best housing market in the country for buyers. Home prices are elevated, but so are new developments. Florida also boasted an average appreciation rate of 15.7% and a very low foreclosure and underwater rate.

South Carolina was the second place finisher with solid price appreciation, relative affordability, and several new homebuilding projects in progress.

New home construction data released

The U.S. Commerce Department released new home construction data on Wednesday. The good news is that single-family home building permits increased by 2.2% month-over-month, and indicates that several new projects could be kicking off shortly.

“The level of single-family starts remains robust, and we believe ongoing near-term strength is likely given the continued upward trend in permits,” said Mark Palim, deputy chief economist at Fannie Mae in Washington.

However, single-family home starts fell by 7.0% month-over-month, indicating that inventory may remain tight until more projects get going. Also, building materials continue to suffer from supply chain challenges with electrical transformer equipment highlighted in the report.

Where can buyers find an affordable home near the beach?

Do you want to be able to walk out your door and feel your feet sink into the sand? You can achieve the beach home you’ve wanted even in the current market conditions. A recent study by Realtor.com reviewed the housing markets that offered property near the beach and ranked them by affordability.

Coming in as the most affordable beach town in the U.S. was Gulfport, MS. Gulfport is right between Alabama and Louisiana, and offers 26 miles of beach. Located off the Gulf of Mexico, Gulfport boasted a median price for homes within one mile of a beach of only $224,000.  

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