Divide shrinks between 'hottest,' 'coldest' markets

ZipRealty: Phoenix remains most-searched city

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Homes in the country’s top 10 "hottest" ZIP codes sold for significantly less above asking price in the third quarter compared to the same period last year, according to a quarterly report by online brokerage ZipRealty.

ZipRealty’s "Home Hunter Report" is based on multiple listing service data from 5,400 cities in 33 of the 35 major metropolitan areas where ZipRealty operates. The data covers the period between July 1 and Sept. 30.