Housing market

October 2021 Hottest Housing Markets – Realtor.com News

Summary

Highlights:

Manchester-Nashua, NH retained the top spot on the hottest housing markets list in October for the 11th time since March 2020.
The top 20 hottest markets are spread out across 13 states, with Indiana and North Carolina represented with 3 metros each on the list, while the West region, home to more than half of February’s top 20 hottest markets, only holds 1 spot on the list.
Affordability is a common factor among these top markets, with an average median list price amon…….

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Highlights:

  • Manchester-Nashua, NH retained the top spot on the hottest housing markets list in October for the 11th time since March 2020.
  • The top 20 hottest markets are spread out across 13 states, with Indiana and North Carolina represented with 3 metros each on the list, while the West region, home to more than half of February’s top 20 hottest markets, only holds 1 spot on the list.
  • Affordability is a common factor among these top markets, with an average median list price among the top 20 of $320,000 in October15.8% lower, on average, than the national median of $380,000.
  • The Orlando, FL metro area again saw the largest increase in its Hotness ranking among larger metros compared to last year for the third month in a row.

Manchester-Nashua, NH retained the top spot on the hottest housing markets list in October. This area originally topped the list back in March 2020, and has held the number one spot a total of 11 times. Manchester-Nashua first cracked into the top 20 in May 2018, and has been in the top 5 for nine of the past twelve months.

Realtor.com’s Market Hotness rankings take into account two aspects of the housing market: 1) market demand, as measured by unique viewers per property on Realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on Realtor.com.

Search for Affordability Sustains Geographic Diversity

As pricey West coast markets have lost some appeal due to a combination of affordability concerns and work-from-home flexibility, activity has spread out across the country. Thirteen states were represented on our list of top 20 hottest housing markets in October, paring down slightly from August’s record-breaking 17 states.

California, which in January 2018 claimed 13 of the top 20 spots, now accounts for just one of the markets on our list with Eureka, CA. This market is also the only market from the West among the top 20, a notable decline from the peak 13 markets in February 2021. Midwestern markets accounted for 8 of the top 20 markets, while the Northeast accounted for 6 of the top 20. Southern housing markets are gaining ground on the list, with 5 spots among the top 20, up from two a year ago. North Carolina continues to gain popularity, establishing 3 metros on the list (Burlington, Raleigh and Durham-Chapel Hill) for the first time in the observed data, which goes back to 2016.

The states featured in our top 20 list this month are: California, Indiana, Kansas, Massachusetts, Maine, Missouri, North Carolina, New Hampshire, New York, Ohio, South Dakota, Tennessee, and Wisconsin.

Our Hottest Housing Markets, by design, are the areas where homes sell fastest and have lots of potential buyers checking out each listing. As a group, Realtor.com’s 20 Hottest Housing Markets received 1.3 to 3.7 times …….

Source: https://www.realtor.com/research/october-2021-hottest-housing-markets/