Analysts at Realtor.com looked at the site’s preliminary data for November and picked out the U.S. metro areas that were hottest amid a slowing overall market.
California real estate markets took most of the top 10 hottest list: San Francisco, Vallejo, San Jose, San Diego, Sacramento, Santa Rosa, Oxnard, and Stockton. Denver took the third spot, and Dallas took fifth.
“We are starting to see more movement [in the ranking] in the hottest markets as the season brings material declines in demand in many markets,” writes Realtor.com chief economist Jonathan Smoke. “However, California remains hot as pent-up demand continues to drive activity in very supply-constrained markets.”