The urban real estate market has been on a roller coaster ride for the past few years. The pandemic initially hollowed out city centers, with their high-rise apartments and office towers. The same demand forces drove residential real estate prices up by a 40% between 2020 and 2022, according to Reuters. Then surging mortgage rates cooled demand, driving sectors like vacation homes down by 50% demand from pre-pandemic levels.
Despite this volatility, several U.S. cities have consistently led the pack in new construction over the past 10 years, according to a new analysis of real estate patterns across the country. And one state stands alone for sheer density of top real estate growth markets.
