Nashville is the #1 Magnet and Supernova according to PwC and the Urban Land Institute



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 other cities. By the end of 2021, cities like Nashville are expected to regain nearly all lost jobs, while the US as a whole is projected to be down almost 2%.

Magnets

Magnet markets are migration destinations for both people and companies. Nashville heads the pack of cities that are growing more quickly than the U.S. average in terms of both population and jobs. Their demographics are also skewed toward faster economic growth prospects with higher proportions of millennials and gen-Xers. These metro areas are also the preferred markets for investors and real estate builders.

Supernovas

The Supernova markets are on a tear. Exploding into prominence and popularity, Nashville leads the five metro areas in this category. All are affordable smaller markets with between 1 to 2 million residents. But their defining attribute is their tremendous and sustained population and job growth, which is well above national averages.

These are true magnet markets, particularly for educated millennials. The Supernovas have above-average levels of economic diversity and white-collar employment, factors that explain their strong investor appeal and should help them sustain further high growth in the years ahead. The triumvirate of Nashville, Raleigh/Durham, and Austin took three of the four top-rated spots in the 2022 survey. Investment and development opportunities abound in these three metro areas, thanks to boomlike growth: together, they grew by almost 10 percent over the past three years alone, adding close to a half million residents.


Click to expand


To read further, click here for the Emerging Trends landing page. From there, scroll down to the top-ranked real estate markets.







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