These are the 10 states with America’s most stable housing markets

These are the 10 states with America’s most stable housing markets

The three most important things in real estate: location, location, location. And the U.S. real estate market is in a weird place right now.

Mortgage rates are nearly double what they were a year ago, reflecting the Federal Reserve’s campaign to rein in inflation. But they have also been volatile, including some sharp declines from week to week.

Home prices remain stuck at historic highs with bidding wars reported in some places, even as the inventory of homes for sale begins to grow and housing markets across the country, including some of the biggest in the states below, begin to cool.

Where is everything heading? recently revised its 2022 forecast, now calling for sales to decline by 6.7{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} this year. Forecasters previously called for a 6.6{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} increase. But even if the new forecast holds true, it would still be the second biggest sales year since 2007, only trailing last year.

As always, some states will fare better than others. Because companies consider the local housing market in their location decisions, CNBC’s America’s Top States for Business study gauges the health of each state’s housing market as part of the broader Economy category, which is worth 13{7e5ff73c23cd1cd7ac587f9048f78b3ced175b09520fe5fee10055eb3132dce7} of a state’s overall score under this year’s methodology. The housing metric considers year-over-year price appreciation, new construction per year, as well as foreclosures and insolvency in the first quarter. 

Looking for a safe place to ride out a potential housing storm? These ten states are the most stable.

10. South Dakota

Deadwood, South Dakota

John Elk | The Image Bank | Getty Images

9. South Carolina

Contractors work on the roof of a house under construction in the Stillpointe subdivision in Sumter, South Carolina, on Tuesday, July 6, 2021.

Micah Green | Bloomberg | Getty Images

8. Arizona

A worker builds a new home at a housing development in Phoenix, Arizona.

Justin Sullivan | Getty Images

7. Vermont

A traditional house in Vermont.

Gerard Sioen | Getty Images

6. Tennessee

A house in Nashville, Tennessee.

Isabella Pino | Universal Images Group | Getty Images

5. Idaho

A ‘New Homes’ sign near the CBH Homes Copper River Basin Community in Nampa, Idaho, Oct. 19, 2021.

Kyle Green | Bloomberg | Getty Images

4. Texas

A residential neighborhood in Austin, Texas, on Sunday, May 22, 2022.

Jordan Vonderhaar | Bloomberg | Getty Images

3. Florida

Single family home available sign in St. Cloud, Florida.

Jeff Greenberg | Universal Images Group | Getty Images

2. Washington

A “For Sale” sign is posted outside a residential home in the Queen Anne neighborhood of Seattle, Washington, May 14, 2021.

Karen Ducey | Reuters

1. Utah

A worker uses a Volvo AB excavator to build a road during residential construction in Saratoga Springs, Utah.

George Frey | Bloomberg | Getty Images