Austin Ranked #1 in the Best Housing Market For Growth and Stability Performance in the U.S.

SmartAsset stated in their recent report, “Gone are the days of a sub-3% mortgage, commonplace during the housing market boom of the COVID-19 pandemic. Mortgage rates have steadily increased since the Federal Reserve started hiking interest rates in March 2022 to combat inflation. As a result, home prices have declined from recent heights.”

Austin ranked #1 in the Best Housing Market For Growth and Stability Performance in the U.S.  SmartAsset reported, “Between 1998 and 2022, home prices increased by 353.92%, the most cumulative growth in our study, without much downside. But home prices aren’t the only thing growing: The population has nearly doubled in the last 20 years, in part thanks to the presence of large tech companies — including Apple, Amazon and Tesla — supporting the local economy.”

SmartAsset compared 400 metropolitan areas in the U.S. and compared them across these two metrics:  Stability and Overall Home Price Growth (calculating cumulative increases from 1998 to 2022, as well as the frequency of significant drops in value). These data come from the Federal Housing Administration (FHA).