Four of the top six “hottest” markets for homebuyers and sellers are located in the Greater San Francisco Bay Area.
According to realtor.com, these markets receive two to three times the number of views per listing on its site compared to the national average and have seen inventory move 25 to 40 days quicker than other markets.
The top Bay Area markets cited are:
- San Francisco/Oakland/Hayward (1)
- Vallejo/Fairfield (2)
- Santa Rosa (4)
- San Jose/Santa Clara (6)
These markets rank highly because of continued tight supply and economic-powered growth in demand, realtor.com stated.
Three other Northern California-located markets reached the top 20 list:
- Santa Cruz (10)
- Sacramento (11)
- Stockton/Lodi (16)
One additional California market made the list: San Diego (12).
Aside from California, Texas had the most markets in the top 20 with four. Dallas-Fort Worth ranked fifth hottest, with Midland, Austin and San Antonio holding the 17 to 19 spots.
Denver remains in the top three for hotness.
According to realtor.com, “The Texas and Colorado story is more of a continuing narrative indicative of the resilience and diversified nature of the states’ economies particularly evident with the reduced contributions from the oil industry.”
Michigan is represented twice in the list, with Ann Arbor and Detroit ranking seventh and ninth. These markets’ performance is related to economic recovery and strong affordability.
Other markets in the top 20 included:
- Boston (8)
- Fargo, North Dakota (13)
- Billings, Montana (14)
- Columbus, Ohio (15)
- Fort Wayne, Indiana (20)
Billings saw the largest jump in hotness, with its ranking going from 39 in May to 14 in June.
Realtor.com tabs this summer as the “best buying season since 2006,” citing robust demand and corresponding growth in supply – 4 percent month over month.
“We’re finally beginning to see an uptick in supply as sellers become more confident about home prices,” said Jonathan Smoke, chief economist for realtor.com.
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