By Karen Schutte | Real Estate Daily News
Redfin, a national real estate residential brokerage, is predicting that Tucson will be one of the hottest housing markets in 2021, along with San Antonio and Tampa, Fla. as housing becomes unaffordable in Phoenix, Austin and Miami, according to the December 15 report.
For years, Americans have been leaving expensive coastal cities for more affordable southern cities such as Austin, Phoenix and Miami, 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.