While REALTOR explored the housing industry’s geographic variation at a state level earlier this year, a new analysis from the company explored the 100 largest metros in the United States. Ten metro areas received a grade in the “A” range, while each scored greater than 50 on both the affordability and homebuilding components: Des Moines-West Des Moines in Iowa, Raleigh-Cary in North Carolina, Columbia, South Carolina, Houston, Indianapolis, Austin-Round Rock-San Marcos in Texas, Jacksonville, Fla., Oklahoma City, Palm Bay-Melbourne in Florida and Columbus, Ohio.
REALTOR’S metro report card revealed a similar pattern to the state one. The South and Midwest are home to the strongest performers, while the West and Northeast received a lower grade. Lower housing costs relative to incomes and higher levels of new construction activity are more common in the Midwest and South, where home prices are lower, job markets are robust, land is more affordable and available. Local policies around zoning and permitting are also more permissive.
