Despite decreasing home inventory and rising prices, many U.S. housing markets are still buzzing.
According to Realtor.com, eleven of the 20 hottest housing markets in September were in California, including San Jose, San Francisco, and Vallejo which came in first, second, and third respectively. The top ten also included Fort Wayne, Indiana and Detroit, Michigan.
The median time on market for properties on realtor.com in September was 69 days, or 8 days shorter than one year prior. The median listing price was $274,000, or 10 percent higher than a year earlier.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development