Five of the Most Active Luxury Housing Markets in the U.S.
With the housing demand being so prominent; here are some luxary markets to build in within the U.S.
According to PENTA, “Areas like Hilton Head, South Carolina; Wilmington, North Carolina; and San Diego offer the laid back atmosphere of a beach town on either coast,” said Danielle Hale, Realtor.com’s chief economist.. Meanwhile, other outdoorsy areas continue to attract shopper interest, including No.1 market Boulder, Colorado; but also Asheville, North Carolina; and even Portland, Maine; and Seattle.”
The luxury index is based on housing data for the top 10% of 60 U.S. markets, and takes into account information on the real estate market and other economic measures in order to rank the most active high-end housing markets. Indicators include growth in housing supply and demand; median listing prices; a cost-of-living measure; small businesses; local property taxes; amenities; unemployment; wages; and the share of foreign-born residents—who contribute to the economic vitality and diversity of the area.
In general, beach towns did especially well in the second quarter, but there were also some major cities in the mix.
“There are also a handful of larger cities that offer big job markets—half of the top-10 are major metro areas with over a million residents,” she added. “The unemployment rate in these areas is generally low, and combined with their large size, they offer a lot of opportunities for working households.”
