The Key Players of the Nation’s Hottest Housing Markets: Affordable Homes
While the majority of the country is competing for housing at record high prices, the fastest selling homes are the most affordable even if they may be hard to find, says Realtor.com. The 20 hottest markets in the U.S. have an average median list price more than 15% lower than the national median home price. These properties are also getting about 2.8 times as many listing views as homes in other markets across the country.
Strong local economies outside of major metro areas are seeing the most affordability and attracting more interest from homebuyers as a result. Also, as remote work becomes more popular, families are relocating and snatching up affordable homes in smaller markets in the process.
For the second month in a row, the Manchester, NH, metropolitan area topped the Realtor.com® list of the country’s hottest markets in October. This was the 11th time the small city, about an hour northwest of Boston, has come in at No. 1 since the pandemic began in March of last year.
Homes in the Manchester area sold in fewer than 24 days in October—about 21 days faster than the typical market. These properties also received about 2.8 times as many eyeballs as the norm in other parts of the country.
The Realtor.com economics team came up with its monthly ranking of the hottest U.S. markets for real estate by tracking the metropolitan areas where homes are selling the quickest and where the most potential buyers are clicking on property listings.
For the full list of the nation’s hottest housing markets …