Despite robust construction activity, homes remain in short supply across the country. With demand for housing continuing to remain high, CoreLogic wanted to know which metropolitan statistical areas are poised for development.
The firm found the majority of fastest-growing markets are in the South, with all but four of the top 20 metro areas located in Texas, Florida, the Carolinas or Tennessee. The top 10 markets on CoreLogic’s list are Lakeland, Florida; Austin, Texas; Raleigh, North Carolina; Dallas; Port St. Lucie, Florida; San Antonio; Wilmington, North Carolina; Cape Coral, Florida; Boise City, Idaho; and Las Vegas.
The analysis is based on several factors including the share of new construction properties built and sold, land-use designation changes, builder and or developer ownership, and new construction permitting. The first two correlate with recent growth and the remaining three factors point to future development potential.
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