Two Tennessee metros in top 12 for new residential construction
Nashville/Davidson County, along with Murfreesboro and Franklin, were ranked at #3, and Knoxville came in at #12.
With the U.S. facing a housing shortage of nearly 4 million homes, new residential construction is critical to restoring affordability and expanding access to homeownership. A new report from Realtor.com® identifies the Top Metros for New Construction, the markets stepping up and delivering the best combination of availability, affordability, sustainability, and demand for newly built homes.
The organization analyzed the 100 largest U.S. metropolitan areas based on four key factors: new-home share of listings, new-home price premiums over existing homes, relative climate risk difference, and buyer demand for new construction based on views per listing and median time on market.
According to the report, two Tennessee cities were in the top 12. They were:
- Nashville/Davidson County, along with Murfreesboro and Franklin, were ranked at #3; and
- Knoxville at #12.
Four of the other ix in the top 12 were also from the traditional Southeast, including:
- Greenville-Anderson-Greer, SC (#7);
- Charlotte-Concord-Gastonia, NC and SC (#9);
- Raleigh-Cary, NC (#10); and
- Columbia, SC (#11).
In the top spot in the report was Fayetteville-Springdale-Rogers, AR, followed by Boise, ID.
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