A new report by Redfin, a national real estate brokerage, predicts that Tucson will be one of the hottest housing markets in 2021, along with San Antonio and Tampa, Fla.
For years, Americans have been leaving expensive coastal cities for more affordable southern cities such as Austin, Phoenix and Miami, according to the Dec. 15 report. But those big cities have become unaffordable for both current residents and new potential migrants.
As a result, nearby smaller cities such as Tucson, San Antonio and Tampa will experience an increase in population and demand for homes, which will heat up those housing markets the most in 2021, Redfin reported.
Tucson homes cost 21% less than Phoenix homes ($265,000 compared to $336,000); San Antonio homes cost 27% less than Austin homes (a median price of $263,000 compared to $362,000); and Tampa homes cost 24% less than Miami homes ($271,000 compared to $355,000), the report said.
“Most of my buyers are coming from out of state: California, Seattle, Oregon, some East coasters too,” said Tucson Redfin agent Kendra Haro. “They are usually torn between Tucson or Phoenix, but they like Tucson more because it has less traffic, it’s smaller and you can get even more for your money.”
Read more predictions from the Redfin 2021 housing market report at www.redfin.com/news/housing-market-predictions-2021/.