Mortgage rates have hit a 20-year record high, but buyers are still eager to purchase homes in South Bend, Indiana.

The South Bend-Mishawaka area placed ninth for best emerging housing markets, according to the Wall Street Journal and Realtor.com. The summer ratings indicate areas with appreciating home prices, a strong local economy and attractive lifestyle amenities.

The average South Bend home value at the end of July was 4.6% higher than the same time last year, according to a Zillow report. The majority of homes in South Bend were sold for equal to or more than asking price in August, according to a Rocket Homes report.

Even though the local population is not increasing and the costs of borrowing are high, limited inventory is keeping prices high. For those who are moving, finding a home near South Bend is difficult.