Huntsville one of "The 10 best cities to buy a home in 2023 are all in the South"

[Steve Stinson]

The 10 best cities to buy a home in 2023 are all in the South

Published Sun, Jan 22 20239:00 AM EST

Mike Winters@MIKEWINTRS

Even with rising homeownership costs squeezing out buyers, some real estate markets will remain hot in 2023, mostly due to their relative affordability compared with the rest of the U.S., a new forecast finds.

The top places have something else in common, too: They’re all located in the South.

Based on a variety of factors, including home affordability, job growth, migration gains and housing supply, the National Association of Realtors (NAR) analyzed 179 markets to determine which will offer the most value to buyers. The data looks back one year from October 2022 and reflects expected demand from buyers in 2023.

The median price of homes in some of these markets isn’t cheaper than the national median of $398,500. However, these cities scored high on other metrics such as job growth or housing supply.

Here are the 10 best places to buy a home in 2023, according to NAR:

7. Huntsville, Alabama

Median home price: $327,500

Alabama’s most populous city is the most affordable area for homes amongst this list. Just under 30% of renters can afford a typical home with a 10% down payment, which is almost twice the national average.

Growing job opportunities and low cost of living will continue to attract even more movers in 2023, according to NAR.

Read the full article HERE