Study says Murfreesboro has one of the hottest housing markets in the country
MURFREESBORO, Tenn. (WMOT) -- A new study says Murfreesboro has one of the healthiest housing markets in the country.
The personal finance website Wallethub.com ranked the 300 largest cities in the nation on the health of their real estate markets. Murfreesboro placed 41 overall, and pushed into the top 20 in the small cities category.
Wallethub analysts looked at 14 metrics to compare the markets, including median home price depreciation, home price as a percentage of income, and the health of the local economy.
Wallethub’s Jill Gonzalez notes that Murfreesboro is one of the fastest growing small towns in America. She says that means a lot of demand for housing.
“The percentage of homes that sell for a gain there (Murfreesboro) is almost 90 percent which is a great marking. We’ve seen the home prices go up in Murfreesboro about 20 percent from 2008 to this year.”
Nashville was the only other city in Tennessee to make it into the top 100 healthiest housing markets.
Wallethub says the Dallas suburb of Frisco, Texas, has the nation’s hottest housing market. Not surprisingly, the 10 worst housing markets are all located in the Northeast.
Would you like to review the complete Wallethub housing market study?