Home sales are expected to soar in 2025, especially in two cities: Virginia Beach, VA, and Colorado Springs, CO.
These places are ranked among the top three housing markets for next year, with sales expected to grow by up to 27%!
But here’s the twist: unlike most top markets, many homeowners in these cities still have mortgages.
In most hot markets, like McAllen, TX, many people own their homes outright without owing anything on a mortgage.
But in Virginia Beach and Colorado Springs, more than 70% of homeowners still have mortgage payments.
This is because a lot of families in these cities are younger and buying their first or second home.
Plus, both cities have a lot of military families, who tend to move every few years, keeping the housing market active.
Why do these cities still have lots of mortgages? Military families often use government-backed loans like VA loans, which help them buy homes with little to no down payment.
These loans make it easier for families to buy homes even with high mortgage rates.
With prices expected to rise and mortgage rates dropping slightly, these cities are set for a busy year in housing sales.
While other places with more homeowners who own their homes outright may see slower activity, Virginia Beach and Colorado Springs will keep moving thanks to younger buyers and military families.