Cities across the Southeast and Texas will be the hottest places for homebuyers in 2023, the National Association of Realtors predicts

As home prices and rents continue to rise in cities stretching from Seattle to New York City, homebuyers may find themselves looking for new opportunities throughout in the southeastern states in 2023, researchers at the National Association of Realtors have suggested. 

Lawrence Yun, a senior economist at NAR, said at the organization's fourth annual Real Estate Forecast Summit on December 13 that cities like Atlanta, Georgia; Raleigh, North Carolina; and Dallas, Texas could become the three hottest real estate markets in 2023 because of their relative affordability, strong job growth, and prevalence of remote working opportunities. 

A major catalyst as to why these cities could see a significant uptick in homebuying activity next year is the fact that about 20% of renters in each market can afford a mortgage on a median priced home in their city. For example, renters in Atlanta pay an average of $1,997 per month as of November, according to Redfin data, compared to Georgia's overall median mortgage payment of $1,450. The story is similar in both Raleigh and Dallas. 

"The Atlanta metro area continues to be more affordable than most areas across the country, with more than 20% of the renters able to afford to buy the typical home in the area," NAR researchers wrote in the report. "The job market is robust, with many major tech companies from the West Coast opening offices, such as Apple, Microsoft, and Visa. As a result, the area experiences substantial migration gains and fast population growth."

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