Since the onset of the COVID-19 pandemic, the housing market has seen many changes. From remote workers fleeing cities in search of larger homes to rising mortgage rates, markets across the U.S. have seen dramatic shifts. However, some housing markets continue to attract competition from buyers. According to GoBankingRates, the most competitive housing markets in the U.S. are San Jose, Calif., Anchorage, Ala., and Richmond, Va. This is due to a number of factors, including ample job opportunities, access to the outdoors, and more.
Located roughly 50 miles outside of San Francisco, San Jose is a vibrant city known as the Capital of Silicon Valley for its close proximity to tech hub giants Apple, Google and Meta, which create an abundance of employment opportunities. In addition to the booming job market, San Jose offers natural beauty, outdoorsy adventures and great weather — but it’s the top competitive market.
The average San Jose home receives four offers, often with no contingencies, and sells in about 15 days for about 5% above asking price.