The Hot List: 20 Markets Soaring in September
Article by Daily Real Estate News | September 30, 2016
September is shaping up to be the hottest fall in the last decade, according to realtor.com®’s latest housing report. Homes for sale in September are moving 4 percent more quickly than last year, despite prices zooming to record highs.
The median home price was $250,000 in September, about 9 percent higher than a year ago and marking a new high for September, realtor.com® reports.
“The fundamental trends we have been seeing all year remain solidly in place as we enter the slower time of the year,” says Jonathan Smoke, realtor.com’s chief economist. A shortage of homes for sale on the market mixed with high demand is triggering price increases across many markets, he says.
So, which housing markets in September stood out the most? Realtor.com®’s data team factored in the number of days homes are spending on the market and the number of views that listings received at its site.
They pinpoints these cities as the hottest real estate markets in the nation in September — those in which inventories are moving 23 to 43 days more quickly than the national average, and listings are garnering 1.4 to 3.7 more views.
- San Francisco
- San Diego
- Fort Wayne
- San Jose
- Yuba City
- Santa Rosa
- Colorado Springs
- Santa Cruz
- Grand Rapids
Source: “The Hottest U.S. Real Estate Markets for September 2016,” realtor.com® (Sept. 29, 2016); REALTOR® Magazine Online, Daily Real Estate News 093016