As the market corrects itself from two years of record sales and prices, CNBC took a closer look at which markets around the country are the most stable based on year-over-year price appreciation, new construction per year, as well as foreclosures and insolvency in the first quarter.
Utah landed in the top spot, based on the state having the nation’s fastest pace of new construction. Prices, however, are rising at the second highest rate in the country. Even still, foreclosures are manageable and home equity is strong, based on CNBC’s analysis.
Similarly, Washington’s market is considerably stable, coming in at no. 2 on the list. While prices remain high, interest in the Pacific Northwest has kept buyers coming back for more over the course of the past two years—and few predict a slowdown.
Red-hot Florida came in at no. 3, banking on continued relocation interest. However, CNBC experts warn that rising foreclosure rates could mean instability is on the horizon. Texas and Idaho round out the top five.
To see CNBC’s full list of the most stable markets, click here.