The housing market in the United States is currently experiencing unprecedented turmoil. Factors such as historically low interest rates, the pandemic, and tightening by the Federal Reserve have created difficulties for both buyers and sellers. While some areas are seeing leveling or declining prices in response to higher mortgage rates, finding affordable homes remains a challenge across the country. This situation has led business leaders to pay close attention to states with healthy housing markets, as they offer opportunities for prospective employees to make wise purchases and find happiness in their homes.

CNBC’s annual competitiveness study, America’s Top States for Business, also takes an interest in the housing market by measuring it in similar ways as companies do. Housing is considered a crucial factor within the Economy category of the study, which is one of the ten categories used to determine competitiveness. To assess the healthiest housing markets, multiple factors are taken into account, including price appreciation, housing starts, foreclosure rates, and affordability. This year, the study also incorporates the National Association of Realtors’ Affordability Distribution Score, which evaluates the affordability of homes for sale across different income levels.

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