Residential Products Online content is now on probuilder.com! Same great products coverage, now all in one place!

Status Quo Remains For March’s Hottest Housing Markets

Vallejo, San Francisco, and Dallas are still atop the rankings, but other markets such as Santa Cruz, Calif., and Grand Rapids, Mich., moved up several spots

March 30, 2017

The March edition of the nation’s hottest housing markets remains largely unchanged from February, as Vallejo, Calif., San Francisco, Dallas, Denver, and San Jose held their rankings in the top five. Santa Cruz, Calif., Fort Wayne, Ind., and Grand Rapids, Mich., all rose at least 10 spots to crack the top 20.

Realtor.com reports that March has been busy. Homes sold in 69 days, which is 22 days faster than the previous month and eight days faster than last year.

Nearly 492,000 new listings entered the market this month, but that figure is still short of meeting buyer demand. The median list price increased to $260,000, which is 8 percent higher than a year ago.

“While the story keeps revolving around low inventory, prices are now also taking center stage, reaching all-time highs and keeping waves of buyers at bay,” Vivas said.

PB Topical Ref