BAM Key Detail:
- Opendoor has revealed its top zip codes for buyers in 2022—the 10 most popular and the top 10 emerging favorites
Opendoor revealed its top 10 most popular relocation destinations for buyers in 2022 and its top 10 emerging favorites.
The company also shared insights into what draws people to these cities and towns, some of which have grown in popularity since 2021.
What makes these zip codes so popular?
Roughly a third of people across the country told Opendoor they would relocate to pursue a lifestyle change—some to be closer to the outdoors or recreational activities and some in search of close-knit communities.
The desire to belong intensified in 2022 as changes in work and personal priorities motivated many to leave bustling city centers for quieter and more cohesive communities.
Opendoor reviewed the top 20 hottest destinations across the U.S. to create the lists, analyzing data from local Multiple Listing Services (MLS) where Opendoor operates.
Zip code ranking is based on the total number of homes that went under contract within 90 days of listing in 2022. Opendoor then broke down its top 20 zip codes into two lists:
- Popular top 10—including several repeat favorites
- Emerging top 10—with markets like Winter Garden, FL, which vaulted five spots from 2021.
Popular Top 10 Zip Codes
The top 10 zip codes on the popular list are mainly recurring favorites, including Clarksville, TN, and New Braunfels, TX.
Claiming the top spot for the second year in a row, Clarksville continues to draw home buyers, largely due to its relative affordability, its high quality of life, and its thriving close-knit community. Plus, it’s still close to Nashville without being too close.
The top reason why first-time home buyers decided to purchase a home in 2022, according to half of the first-time homebuyers in Opendoor’s survey, is family. Buyers still want the proximity to major job centers, but they want their homes to be in family-friendly neighborhoods.
Katy, TX and Yukon, OH are on the list because they’re still close to bustling metros while providing a separate and close-knit local community.
After family, another major factor in homebuyer decisions is space. According to Opendoor’s First-Time Home Buyers report, almost half (45%) make this a priority in their home search.
Summerville, SC and Murfressboro, TN debuted on the top ten list for 2022 because both offer home buyers spacious suburban living.
New emerging favorites
The rising neighborhoods on this list have this in common: a small-town feel with a location close to a bustling downtown area with plenty of options for dining, shopping, and entertainment.
Home buyers are drawn to these places because they crave a sense of belonging in smaller cities and towns within a short commute from major metros.
Aubrey, TX and Cumming, GA provide both. And Gallatin, TX; Suwannee, GA; and Parker, CO all have their own downtown or active community, satisfying both needs at once.
Top takeaways for real estate agents
If you’re serving one of the popular or emerging markets in Opendoor’s lists, you may already know and proudly advertise the factors that draw people to your area.
And the more you know what your out-of-town buyers are looking for, the easier it will be to find homes they’ll love. Also, knowing your neighborhood’s virtues will make it easier to help local homeowners get the best value from selling their homes.
Home values in popular and emerging markets are more likely to increase than to see even a small decline, even with inflation, high mortgage rates, and overall economic uncertainty.
Identify exactly what your clients need and what their goals are. Then learn and share the information they need, so you can help them get the best result from a life-changing decision.