The Wall Street Journal reported on Wednesday that Johnson City ranks #23 in the nation in terms of the “hottest emerging housing markets.” It was the only Tennessee city listed among the top 50.
The rankings are a joint effort of the newspaper and Realtor.com to identify “the top metro areas for home buyers seeking an appreciating housing market and appealing lifestyle amenities.”
Knoxville was the next highest ranked Tennessee city at #79 followed by Chattanooga (#112); Metro Nashville, Franklin and Murfreesboro (#136); Kingsport and both Bristol, TN and VA (#162); and Clarksville (#191).
What city is #1? It is Coeur d’Alene, ID.
To arrive at the rankings, The Wall Street Journal and Realtor.com reviewed U.S. Census Bureau data for the 300 most populous core-based statistical areas. The overall methodology evaluates two main areas: real-estate markets (50 percent) and economic health (50 percent). Those areas are comprised of eight key indicators: real estate supply (16.6 percent), real estate demand (16.6 percent), median home listing price trend (16.6 percent), amenities (7.1 percent), wages (7.1 percent), unemployment (7.1 percent), regional price parities (7.1 percent), commute (7.1 percent), foreign-born residents (7.1 percent), and small businesses (7.1 percent).