According to a forecast from Realtor.com, Hartford, Connecticut, is on track to be the hottest housing market for buyers in 2023. Its forecasted home sales change for 2023 is +6.5%, and its forecasted home price change is +8.5%
Projected Growth In Home Sales
In Realtor.com’s top 10 markets, home sales are forecasted to grow by 5.2% year-over-year in 2022, and home prices are expected to increase by 7.3%. Compare this to data across the U.S., which forecasts a -14.1% decline in home sales and a 5.4% increase in home prices.
Hartford, CT has seen lower price increases than pandemic hotspots over the past two years. In today’s market, that means they are more affordable—and, therefore, more enticing to hopeful buyers.
You may be wondering why Hartford is the hottest housing market. For starters, the buying frenzy and price increases in Hartford were lower than in other areas across the country. Hartford also features a higher proportion of workers in manufacturing, government, education, and healthcare relative to the 100 largest metros.
Hartford is also distinguished in the market due to a high percentage of buyers looking from out of state, and its leverage of more government-backed mortgage products, like VA and FHA loans.
For the complete list of the top 100 markets, click here.
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