The pandemic has thrown the U.S. housing market into turmoil, with surging demand, inflation, rising interest rates and reduced supply driving up home prices.
Check it out: Housing Market 2024 – Home prices are plummeting in 10 previously high-priced housing markets
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However, the housing markets in the South and Gulf Coast are pretty “cool” right now. While no U.S. housing market is immune to rising home prices and interest rates, there are additional hurdles to owning a home in these regions. Homeowner’s insurance premiums have risen, making it more expensive to own a home in these regions.
At the same time, the supply of single-family homes is growing in the South and Gulf Coast, and new home construction is outpacing the Northeast and Midwest. This creates more opportunities for buyers to get a better deal, as sellers are more likely to compromise on buyer demands.
In particular, there are 20 metro areas with “cool” housing markets poised for significant growth. Now may be your chance to get in before these areas get “hot.”
Read more: 10 dangerous cities where you shouldn’t buy a house, no matter the price
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20 ‘cool’ housing markets where you can find great deals
According to Realtor.com, there are 20 housing markets where you can get great deals today. Many of these cities have the potential to rise in the future. Each housing market is ranked on three metrics: “Supply Score,” “Demand Score,” and “Popularity Score.” The “Popularity” score is a composite metric that equally weights an area’s “Supply Score” and “Demand Score.” Realtor.com regularly evaluates the 300 largest metropolitan areas in the U.S., and here are the “coolest” housing markets where you can get great deals today:
1. Lake Charles, Louisiana
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Supply Score: 0.3
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Demand Score: 0.7
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Heat score: 0.5
2. Houma-Thibodaux, Louisiana
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Supply Score: 2.0
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Demand Score: 0.3
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Heat score: 1.2
3. Panama City, Florida
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Supply Score: 1.7
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Demand Score: 2.3
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Heat score: 2.0
4. Punta Gorda, Florida
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Supply Score: 1.3
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Demand Score: 2.7
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Heat score: 2.0
5. Naples-Marco Island, Florida
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Supply Score: 0.3
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Demand Score: 5.0
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Heat score: 2.7
6. Cape Coral-Fort Myers, Florida
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Supply Score: 2.3
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Demand Score: 3.3
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Heat score: 2.8
7. McAllen Edinburg Mission, Texas
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Supply Score: 5.0
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Demand Score: 1.7
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Heat score: 3.3
8. Miami, Fort Lauderdale, Pompano Beach, Florida
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Supply Score: 5.0
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Demand Score: 5.7
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Heat score: 5.4
9. Brownsville-Harlingen, Texas
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Supply Score: 2.7
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Demand Score: 9.0
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Heat score: 5.9
10. Las Cruces, New Mexico
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Supply Score: 6.7
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Demand Score: 5.4
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Heat score: 6.0
11. Phoenix-Mesa-Chandler, Arizona
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Supply Score: 6.7
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Demand Score: 6.0
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Heat score: 6.4
12. Albany, Georgia
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Supply Score: 0.0
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Demand Score: 13.7
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Heat score: 6.9
13. Lafayette, Louisiana
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Supply Score: 8.4
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Demand Score: 6.4
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Heat score: 7.4
14. Crestview, Fort Walton Beach, Destin, Florida
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Supply Score: 4.3
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Demand Score: 11.4
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Heat score: 7.9
15. El Paso, Texas
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Supply Score: 15.4
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Demand Score: 1.3
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Heat score: 8.4
16. Honolulu, Hawaii
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Supply Score: 13.4
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Demand Score: 4.0
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Heat score: 8.7
17. Winter Haven, Lakeland, Florida
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Supply Score: 9.7
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Demand Score: 8.0
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Heat score: 8.9
18. Deltona, Daytona Beach, Ormond Beach, Florida
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Supply Score: 6.4
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Demand Score: 11.7
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Heat score: 9.0
19. Daphne Fairhope Foley, Alabama
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Supply Score: 4.7
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Demand Score: 17.4
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Heat score: 11.0
20. Corpus Christi, Texas
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Supply Score: 3.7
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Demand Score: 19.7
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Heat score: 11.7
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This article originally appeared on GOBankingRates.com: In Less Than a Year, You’ll Regret Not Buying Property in These 20 Housing Markets
