These are the 10 best U.S. cities for homebuyers right now
While it’s tempting to identify culprits that help explain the dismal state of the housing market —Boomers, say, or institutional investors—some metro areas are quietly crafting policies that ensure housing remains affordable. Local housing policy, particularly related to zoning and permitting, is a major factor that distinguishes those metro areas that rank highly for affordability from those…
A new report by Realtor.com has ranked the 100 largest U.S. metropolitan areas based on housing affordability and new construction activity. Des Moines, Iowa and Raleigh, North Carolina topped the list, both receiving an "A+" grade, while Los Angeles, California and Providence, Rhode Island were at the bottom, receiving a "F" grade.
The report highlights the importance of local housing policies, particularly zoning and permitting rules, in determining housing affordability. Cities with more flexible zoning and streamlined permitting processes, such as Des Moines and Raleigh, tend to have higher levels of new construction and more affordable homes. In contrast, cities with strict zoning laws and lengthy permitting processes, like Boston, tend to have higher median listing prices and lower rates of new construction.
The report also notes a clear geographic split in the housing market, with the highest-ranking metro areas located in the Midwest and South, while the lowest-ranking metro areas are concentrated in the Northeast and West Coast.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
