10 Top Housing Markets for Buyers in 2023

Although home prices are not expected to drop in 2023, the good news is that there are still many appealing markets that are relatively affordable for prospective buyers. And that’s the case for the areas that Realtor.com predicts will be the top housing markets of 2023.

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To identify the top markets for the coming year, Realtor.com ranked places by both their sales and price growth. Not only are these markets set for remarkable growth in the coming year, but they have seen lower price increases and a relatively smaller affordability crunch than other markets across America.

“As many households keep a close watch on their spending, we expect these top housing markets to be in relatively high demand,” Danielle Hale, chief economist at Realtor.com, said in a press release. “We’ve seen lower price increases, more general affordability and more use of government-backed mortgage products for veterans, first-time and minority buyers in these top markets, providing opportunities for all homebuyers to stretch their homebuying dollars.

“Many of these areas flew under the radar in the pandemic frenzy and are now well-positioned to bubble up with solid job prospects without the big-city price tag.”

Here’s a look at the top 10 housing markets for 2023.

1. Hartford, Connecticut

• November 2022 median home price: $372,000

• Forecasted 2023 home sales change: +6.5%

• Forecasted 2023 home price change: +8.5%

• Forecasted 2023 combined sales and price change: +15.0%

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2. El Paso, Texas

• November 2022 median home price: $291,000

• Forecasted 2023 home sales change: +8.9%

• Forecasted 2023 home price change: +5.4%

• Forecasted 2023 combined sales and price change: +14.3%

3. Louisville, Kentucky

• November 2022 median home price: $290,000

• Forecasted 2023 home sales change: +5.2%

• Forecasted 2023 home price change: +8.4%

• Forecasted 2023 combined sales and price change: +13.6%

4. Worcester, Massachusetts

• November 2022 median home price: $447,000

• Forecasted 2023 home sales change: +2.5%

• Forecasted 2023 home price change: +10.6%

• Forecasted 2023 combined sales and price change: +13.1%

5. Buffalo, New York

• November 2022 median home price: $240,000

• Forecasted 2023 home sales change: +6.3%

• Forecasted 2023 home price change: +6.0%

• Forecasted 2023 combined sales and price change: +12.3%

6. Augusta, Georgia

• November 2022 median home price: $319,000

• Forecasted 2023 home sales change: +6.2%

• Forecasted 2023 home price change: +5.7%

• Forecasted 2023 combined sales and price change: +11.9%

7. Grand Rapids, Michigan

• November 2022 median home price: $358,000

• Forecasted 2023 home sales change: +1.6%

• Forecasted 2023 home price change: +10%

• Forecasted 2023 combined sales and price change: +11.6%

8. Columbia, South Carolina

• November 2022 median home price: $300,000

• Forecasted 2023 home sales change: +7.7%

• Forecasted 2023 home price change: +3.6%

• Forecasted 2023 combined sales and price change: +11.3%

9. Chattanooga, Tennessee

• November 2022 median home price: $397,000

• Forecasted 2023 home sales change: +2.9%

• Forecasted 2023 home price change: +8.2%

• Forecasted 2023 combined sales and price change: +11.1%

10. Toledo, Ohio

• November 2022 median home price: $161,000

• Forecasted 2023 home sales change: +4.2%

• Forecasted 2023 home price change: +6.7%

• Forecasted 2023 combined sales and price change: +10.9%

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All data is sourced from Realtor.com’s “Top Housing Markets for 2023” and is accurate as of Dec. 7, 2022.

This article originally appeared on GOBankingRates.com: 10 Top Housing Markets for Buyers in 2023