Elkhart, Ind., Among Top Emerging Housing Markets in U.S. – RVBusiness – Breaking RV Industry News
THOR employees help assemble wall panels for a Habitat home in the parking lot of the company’s Beardsley Street headquarters. The Wall Street Journal and Realtor.com placed this area second in its fall emerging housing markets index released Wednesday. (Photo: Elkhart Truth)
ELKHART, Ind. – Elkhart-Goshen ranked among the nation’s most coveted areas to buy a house in a new real estate report, according to reporting by Blair Yankey in the Elkhart Truth.
The Wall Street Journal and Realtor.com placed this area second in its fall emerging housing markets index released Wednesday. The index identifies the top 20 metro areas out of the largest 300 in the U.S., based on real estate market categories and on categories in the areas of economic health and quality of life.
“Markets offering low-cost living, strong employment and convenient commutes performed best as higher mortgage rates and prices have caused home sales to slow nationwide,” the report said.
This is the third time that the Elkhart-Goshen market area has been included in the index in 2023, and the area made the Top 10 throughout 2022.
On average, the national unemployment rate ticked up to 3.8%. Only Elkhart-Goshen and Canton-Massillon, Ohio, have unemployment rates higher than the national rate with 4.3% and 4%, respectively, the report states.
There have been a total of 1,682 new home listings between January and September, which is down from the same period in 2022 by 258, according to a housing market report from the Elkhart County Board of Realtors.
Elkhart-Goshen is one of the lower-priced emerging housing markets on the list, with a median home price of $280,000. That figure is noticeably lower than the median-priced U.S. home for sale, which was $430,000 in September, according to Realtor.com.
The report evaluated the 300 most populous core-based statistical areas, as measured by the U.S. Census Bureau.
The ranking considers a market’s real estate supply and demand, as well as its median listing price trends. It also considers the area’s economic quality of life indicators, such as unemployment, wages, amenities, commute times and local taxes.
Topeka, Kan., snagged the No. 1 spot this year, with Oshkosh-Neenah, Wisc., placing third behind Elkhart-Goshen.
Source: https://rvbusiness.com/elkhart-ind-among-top-emerging-housing-markets-in-us/
