Bill Diebenow Properties

Too bad you can’t bank on a repeat of this booming housing market as your future side hustle. However, in 25 of 38 major metros, homeowners earned more last year from home appreciation than from their jobs. Borrowing humor from this Zillow article , the term “household income” has taken on new meaning 😂. Home values surged last year as low mortgage-interest rates stoked buyer demand and the number of homes on the market remained unusually low. Remote work enabled some households to move from high-cost housing markets to less expensive ones, where they were able to outbid local buyers. Zillow’s home value index, which estimates the value of the typical U.S. home, rose 19.6% in 2021 to $321,634, an increase of $52,667 from 2020. That figure was slightly higher than what the median U.S. full-time worker earned, which was about $50,000 last year before taxes, according to Census Bureau data cited by Zillow. Greater Nashville We experienced a wider differential. Our typical home rose by $...

No surprise here. Nashville has been named the nation's leading real estate market by PwC and the Urban Land Institute in their annual report Emerging Trends in Real Estate® 2022 . Click my video to hear what the report terms the simmering cauldron of residential sales. In Summary--Nashville is the #1 Magnet and Supernova The pandemic stopped a lot of people in their tracks, but also set many in motion. People freed to work remotely realized that they could beam into their meetings from 1,000 miles away just as easily as 10. No wonder, then, that almost all of this year’s survey of top-ranked real estate markets are in faster growing southern and western regions and away from the coasts. The two top-rated metro areas in the Emerging Trends survey, Nashville and Raleigh/Durham, each have fewer than 2.5 million people. But they are growing explosively. And they’ve shown impressive economic staying power even in a pandemic. They regained jobs lost in the downturn much faster than o...