Though many economists predict that home price growth will slow in 2022, a lack of available inventory will keep things competitive for buyers for the foreseeable future.

With permanent work-from-home arrangements gaining popularity dynamics shifting, longstanding assumptions about the most popular metropolitan areas for homebuyers have been upended, with less visible markets gaining interest among those searching for a new home, according to the Emerging Trends in Real Estate 2022 report from PricewaterhouseCoopers and the Urban Land Institute.

“There is clearly an optimism within the real estate industry for its prospects in 2022 and there is undeniably a weight of capital available for investment,” Anita Kramer, senior vice president of ULI’s Center for Real Estate Economics and Capital Markets, said in the report.

The report included analysis from 1,700 real estate experts, investors, fund managers, developers, property companies, lenders, brokers, advisers and consultants. The list of what are expected to be the top markets in 2022 was based on strong growth, homebuilding outlook, affordability and job prospects. From Appalachia to the Rockies, local lenders detail what's causing substantial growth in their metro areas.