Americans are shying away from a “bigger is better” culture. Instead, many are embracing minimalism and want high-quality products that get the job done for less. The housing market is following a similar trend as realtor.com found that buyers are looking for smaller, more affordable houses in modest, yet amenity-heavy cities. For example, Fort Wayne, Indiana—not New York City, San Francisco, or even Chicago—has been crowned the hottest market in real estate for six months straight, according to realtor.com’s ranking of the hottest markets in the country.
This past holiday season, not only did the best gifts come in small packages, but the real estate markets that were hottest with home buyers were modest in size and budget, realtor.com® data for December shows.
For the sixth month in a row, the Fort Wayne, IN, metropolitan area (population 419,453) held on to the top spot in realtor.com's ranking of the hottest markets for U.S. real estate. The ranking is based on the metros that get the most listing views, and where homes sell the fastest.
"I'm not shocked," says Beth Walker, a real estate broker at Fairfield Group Realtors in Fort Wayne. "We continue to lead the pack as one of the most affordable places to live in the country."
Plus, there are new amenities, including a riverfront park that just opened. There's plenty of development going on downtown, including millennial-friendly condo and apartment buildings that leave room for restaurants and breweries on the ground floor.