5 Cities That Could Have the Most Stable Housing Markets by the End of the Decade
Written by
Angela Mae
Edited by
Zuri Anderson
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The U.S. real estate market is ever-changing. According to Redfin, home prices rose by 3.9% year-over-year (YoY) in September 2024, while the number of properties sold dipped by 4.8%.
Mortgage interest rates have also fallen — down roughly one percentage point YoY — but there are more homes on the market than ever.
From housing prices to inventory to interest rates, the housing market has always fluctuated. But whether you’re looking to buy or sell a home, you may want to know what’s going on in your area. And part of that means knowing whether or not your housing market is stabilizing.
These are the top U.S. housing markets most likely to stabilize by the end of the decade, according to real estate experts.
Raleigh, North Carolina
Sergio Aguinaga, the owner and founder of Michigan Houses For Cash, said places like Raleigh are likely to maintain stability in the coming years. This is largely due to its growing job market and overall high quality of life.
Cities like Raleigh “continue to draw people with their balance of economic opportunities and outdoor living,” he said.
In terms of job market, Raleigh is part of the Research Triangle and is home to many opportunities in education, tech and life sciences. The state as a whole is projected to have 628,000 new openings each year.
Compared to other major cities, Raleigh is also still on the more affordable side. The housing market is competitive, but the median sales price is $410,000 — a little below the national median of $412,300.
Austin, Texas
Next up is Austin, a city where the median sales price of homes is $553,000. This is expensive, yes, but it’s only up about 2% YoY. Redfin ranked the housing market as “somewhat competitive.”
“Austin has firmly established itself as one of the most dynamic housing markets in the country,” said Peter Lopipero, a real estate expert and the founder of LI Houses Wanted. “The city’s growth is primarily driven by the tech industry, with companies like Tesla, Oracle and Google setting up major operations there.”
This has led to more business opportunities and greater demand for real estate. But as people start to settle in, the housing market could stabilize.
Boise, Idaho
In Boise, the median sales price is $520,000. The city has grown immensely over the years, partly due to the higher cost of living in other parts of the country — like California or Washington state.
“While Boise has seen rapid home price appreciation, it is still relatively affordable compared to many major metropolitan areas, which should help keep its housing market stable in the long run,” said Lopipero.
Denver
Denver, like Raleigh, could have a much more stable housing market in the coming decade — at least according to Aguinaga.
Referring to both cities, here’s what Aguinaga had to say:
“Both cities have strong economic growth and a steady influx of residents, which should help sustain property demand and prevent major fluctuations in the housing market.”
He also noted the expanding job market and generally high quality of life in Denver as being key reasons for this stability.
In June 2024, Denver had 188,000 new job openings compared to 178,000 in May 2024. Job openings alone don’t indicate stability, but other factors — like housing prices over time — might.
Case in point, the median sales price of homes in Denver is $570,000, only 0.9% up YoY. The market is also “somewhat competitive.”
Nashville, Tennessee
In Nashville, the median sales price of homes is $450,000. Unlike the other cities on this list, prices are actually down 1.2% from last year. The market is still “somewhat competitive,” based on Redfin’s ranking.
That said, there’s still a lot of growth to be had.
“Nashville continues to grow rapidly,” Lopipero said. “The city has seen a boom in both population and job growth, and despite rising home prices, it remains an affordable alternative to major markets like Los Angeles or New York.”
Lopipero added that there have been quite a few investments in infrastructure and commercial development, both of which lend to the idea of future and ongoing stability.
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