Lancaster County has the healthiest housing market in the U.S., according to economics researchers at the Nationwide insurance company.
The county ranks No. 1 among the 400 metro areas evaluated in Nationwide’s latest “Health of Housing Markets” report. The publication is released quarterly.
Two other markets in Pennsylvania ranked in the top 10: Scranton-Wilkes-Barre at No. 2 and Philadelphia at No. 9.
The report gives U.S. housing overall a healthy rating, though tight supplies of homes for sale and sharp price rises “continue to weigh on affordability and the overall housing outlook,” Nationwide said.
The report ranks housing markets based on employment, demographics, the mortgage market and house prices.
The nation’s worst housing markets tend to be those “with strong ties to the energy sector” in states such as North Dakota, Texas and Louisiana, the report said.
They have been hit hard by the sector’s retrenchment, but are starting to recover as employment recovers, it said.