The hottest real estate markets in the U.S. are cities and metro areas with healthy economies, low unemployment rates and substantial job growth, according to a report from Realtor.com highlighting next year's most competitive housing markets.
Among the 10 "hottest" markets in 2022 is Worcester coming in at #9 in Realtor.com's list.
The real estate listings website says Worcester is a "popular metro area for ex-Bostonians search for affordability" and is a "vibrant economy...big in the biotech and medical industries, employers here include pharmaceutical giant AbbVie and UMass Medical School."
Realtor.com says home prices are significantly less expensive in Worcester compared to Boston and the city features great restaurants and shops in a revitalized downtown area, while having a "vibrant college-town feel" being home to 10 area colleges and universities.
“Our top housing markets are attracting remote-minded workers, possibly interested in snagging a big-city salary while still enjoying the quality of life that these generally smaller areas afford,” Realtor.com Chief Economist Danielle Hale said in the report.
According to Realtor.com, part of what is attracting people to areas like Worcester is the rise of remote work due to the COVID-19 pandemic and white collar workers wanting to spend their money in cheaper locales.