Suburbs Top the List of the Most Popular Housing Markets of Early 2022

The nation’s hottest housing markets are no longer located in popular cities like New York and Los Angeles, but instead, remote workers are driving up demand (and home prices) in smaller and more affordable suburban markets. Topping the list of the most popular housing markets of early 2022 is Woodinville, Washington, a small community outside of Seattle, where the typical home value is up to $1,357,938, according to National Mortgage News.

Burke, Virginia is another popular hotspot for remote workers thanks to its proximity to Washington D.C. as well as its relative affordability. Most single-family homes sell within the $600K to $800K range, well above the national median, but far below the average price for a single-family home in the city.

Remote and hybrid work models have empowered workers to move within a short drive of city centers and the shift in demand has caused suburban prices to skyrocket. Ten suburbs topped Zillow’s ranking of the most popular markets in early 2022, where home values grew at a faster rate than those in the main city within their metropolitan area.

“How many employers continue to allow this flexibility for employees to live where they choose will go a long way toward determining which markets are most in-demand in the future," said Nicole Bachaud, Zillow economist in a press release.

PB Topical Ref