The Nation’s Hottest Housing Markets Are Slowing Down

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May 04, 2016

In an interesting twist of fate, the hottest housing markets in the country (think San Francisco and San Jose) are beginning to cool a bit and housing markets that have been slow to recover after the recession are finally starting to warm up.

As Trulia reports, while the San Francisco Bay Area is still home to the fastest moving markets with 42 percent of the homes for sale lasting on the market for a month or less, the pace is actually beginning to slow.

In April 2015 in San Francisco, only 35.5 percent of homes were still on the market after one month. In April 2016, however, that number jumped to 41.3 percent of homes still on the market after one month. Oakland also saw an increase in the number of homes remaining on the market after one month as it rose from 35.8 percent to 39.8 percent. San Jose saw a 2.2 percent difference in the share still for sale after a month between April 2015 and April 2016, as well.

Meanwhile, Seattle, Portland, Tacoma, and Colorado Springs all saw the number of homes for sale after one month dip. Colorado Springs saw the biggest drop, as 8.8 percent fewer homes are still available after being on the market for a month.

Overall, out of the top ten fastest-moving housing markets, five saw the number of homes for sale after one month increase and five saw that number decrease.

Among the slowest-moving markets, Long Island sped up the most, as there are 11.7 percent fewer homes on the market after one month in April 2016 as compared to April 2015. Knoxville and Pittsburgh are other slow-moving markets that experienced an increase in the rate at which homes are being sold.

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