Top 20 Most Competitive Housing Markets for Spring 2018
By Maggie Wilson @ Real Estate Daily
March 8, 2018

As the housing market prepares for its busiest season of the year, serious buyers are preparing to beat out hundreds of competitors in some of the nation’s hottest housing markets.

Housing demand is reaching new heights on the back of strong economic growth. This intense demand is pushing the national median home price noticeably higher every month, and low housing supply is only amplifying the trend.

Key Takeaways

  • San Francisco held the #1 spot for another consecutive month in February
  • California claimed 13 of the top 20 hottest housing markets
  • Texas, Colorado, Ohio, Washington, and Indiana claimed the remaining seven hottest markets

Excerpt

Coming out of their winter doldrums, listing prices have begun their traditional spring climb and quickly reclaimed historical highs, hitting a median $275,000—which was last summer’s peak. This indicates that we’ll probably see an even higher peak this spring and summer, the prime season for buying and selling homes. Listing prices also increased 10% compared with February 2017.

“Rapid mortgage rate jumps, and confirmation of a brighter economic outlook have inflated the pool of home buyers early in the year, putting an extra squeeze on the mid- and entry-level market,” said Javier Vivas, director of economic research at realtor.com.

The persistent problem is an insufficient supply of homes for sale. While housing inventory grew 2% from January, it was down 8% from the February before.

“A second wind in demand has extinguished weak bursts of new construction and new listings, putting a larger than expected dent on inventory,” Vivas noted. “While fewer markets are seeing inventory get worse this month, many others have seen the listings shortage intensify even further.”

Here are the top 20 real estate markets for February 2018:

Rank (February)20 Hottest MarketsRank (January)Rank Change
1San Francisco, CA10
2Midland, TX53
3Vallejo, CA30
4San Jose, CA2-2
5Sacramento, CA83
6Denver, CO93
7Santa Rosa, CA70
8Colorado Springs, CO4-4
9San Diego, CA6-3
10Stockton, CA100
11Santa Cruz, CA187
12Dallas, TX120
13Chico, CA163
14Oxnard, CA173
15Modesto, CA11-4
16Columbus, OH15-1
17Fresno, CA13 -4
18Spokane, WA3113
19Fort Wayne, IN289
20Los Angeles, CA14-6

View the original article at realtor.com