The month’s hottest housing market is not in San Francisco or Seattle — but rather in Midland, Texas.

In November, the industrial West Texas city had some of the fastest-selling and most in-demand homes in the country, according to Realtor.com’s latest market index report. On average, residential properties in the one-time home of former president George W. Bush sold within a median of 44 days while properties in the area received 2.1 more views than the national average.

The report looks at parts of the country in which demand has been growing faster than the number of homes available for sale. The median listing price in Midland is now $358,450 – a 20 percent increase from the same time in 2017. While the report does not outline the reasons for such rapid growth, a strong economy has been pushing professionals — among them many millennials — to move to Texas.

Still, Texas’ Midland and Odessa, another Western industrial town, have been experiencing an explosion in the number of people looking to buy homes. In the latter, houses are spending a median of 42 days on the market and selling 40 percent faster than last year.

Courtesy of Realtor.com

Fort Wayne, Indiana, and Columbus, Ohio, were next on the list of hottest markets — houses there spent 48 and 50 days on the market, respectively. While California’s Sacramento and San Francisco made it in the top 10, homes are generally selling faster in smaller, Midwestern cities fueled by job growth.

But as Realtor.com’s chief economist Danielle Hale pointed out in earlier reports, a hot market may only be a boon if you’re only looking to sell. For buyers, a hot market will mean rising prices and high competition.

“Now it’s such a seller’s market in much of the country, you might not necessarily want to be in the hottest market if you’re a homebuyer,” Hale said in a video that explains the market reports.

Email Veronika Bondarenko

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription