The Housing Market’s 50 Hottest Zip Codes

The Housing Market’s 50 Hottest Zip Codes
realtor.com | October 1, 2018

The following is realtor.com®’s rankings of the top 50 hottest ZIP codes for housing in the country.

1810-realtor.com-chart_hot-ZIPs

Source: National Association of REALTORS®

Markets with the Most Rapid Home Sales

Markets with the Most Rapid Home Sales
realtor.com   article by Daily Real Estate News | March 13, 2018

House 1034In some markets, homes are selling at record speeds. Realtor.com®’s research team scoured the listing data to find which markets are seeing the quickest sales, based on the median number of days on the market.

The number of days spent on the market is important for sellers and prospective buyers to know, says realtor.com®’s chief economist Danielle Hale.

“That info can give home buyers an idea of how much competition they face, how limited homes are in the market, and how quickly they need to make a decision if they find a home they like,” says Hale. For sellers, it can give them an idea of how long they may have to move elsewhere.

The median number of days on the market nationwide is dropping due to an imbalance in many places in the low supply of homes compared to high demand from buyers.

Out of the nation’s 300 largest metros, realtor.com®’s research team found that the following places saw the lowest number of days on the market for its homes for sale: (Note: realtor.com® limited its ranking to one metro per state for geographic diversity.)

  1. San Jose, CA.: 28.6 (median days on the market)
  2. Seattle, WA: 34.1
  3. Salt Lake City, UT: 38.2
  4. Denver, CO: 39.2
  5. Nashville, TN: 40.6
  6. Portland, OR: 44.3
  7. Boise, ID: 46
  8. Sioux Falls, SD: 46.8
  9. Omaha, NE: 47.2
  10. Minneapolis, MN: 47.3

Visit realtor.com® to find out where homes are lingering on the market the longest.

Source: “Where Homes Are Flying Off the Market—and Where They’re Lingering Longest,” realtor.com® (March 12, 2018); REALTOR® Magazine Online, Daily Real Estate News 031318

Nashville is Among Top Cities That Boast the ‘Best Value’

Which cities offer the best value? Kiplinger’s Personal Finance magazine recently ranked metro areas by best “value,” factoring in low cost of living, strong economies, and personal amenities.

The following are the six metro areas that topped its list, including each city’s unemployment rate, median household income, and cost-of-living index (the index is based on the national average of 100; cities with a score below 100 have a lower cost-of-living). To see the other factors that weighed Kiplinger’s decisions for the top 6 and to view the full list, visit the Kiplinger Web site.

1. Omaha, Nebraska
Unemployment rate: 4.6%
Cost-of-living index: 90.3
Median household income: $53,457

2. Charlotte, North Carolina
Unemployment rate: 10.4%
Cost of living index: 93
Median household income: $53,168

3. Nashville, Tennessee
Unemployment rate: 8.5%
Cost of living index: 90.7
Median household income: $51,352

4. Colorado Springs, Colorado
Unemployment rate: 9.3%
Cost-of-living index: 92.0
Median household income: $56,576

5. Knoxville, Tennessee
Unemployment rate: 7.7%
Cost-of-living index: 89.7
Median household income: $45,727

6. Lexington, Kentucky
Unemployment rate: 7.8%
Cost-of-living index: 89.1
Median household income: $48,158

Source: “10 Best Value Cities for 2011,” Kiplinger’s Personal Finance (July 2011); Daily Real Estate News (July 26, 2011); Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

Fewer Sellers Are Cutting Prices

The prices on 19 percent of homes for sale as of March 1st have been reduced at least once, the lowest percentage in the last year, according to Trulia.com.

In October and November, when the market was feeling the effect of the tax credit, 26 percent of sellers cut their asking prices.

“Better pricing is leading to less time on the market, less price reduction, and in a lot of markets we’re starting to see bidding wars on lower end properties,” said Ken Shuman, spokesperson for Trulia.

Trulia calculates that these U.S. cities experienced the biggest decline in price reductions from Feb. 1, 2010 to March 1, 2010:

  • Charlotte, N.C.
  • Colorado Springs, Colo.
  • Houston
  • Raleigh, N.C.
  • Jacksonville, Fla.
  • Albuquerque, N.M.
  • Tucson
  • Omaha, Neb.
  • San Antonio, Texas

Source: Trulia.com (03/09/2010)

Cities Where a 4-Year Degree Pays

Cities where white-collar incomes have jumped the most in the last four years are not necessarily commercial hot spots.

Payscale, a Seattle-based online provider of employee compensation data, identifies urban areas where college graduates saw the most income growth between 2005 and 2009. The cities are scattered throughout the country and prove that even during a recession, it’s not where you live that matters nearly as much as what you do.

“When the crash comes, and you lay off 75 percent, you tend to keep the higher-paid jobs. So your salary base goes up,” says Cynthia Kroll, economist at the Fisher Center of Real Estate and Urban Economics at the University of California Berkeley.

“It’s not that highly skilled people don’t also get laid off, but the mix is going to be weighted toward the more experienced, more skilled workers that you’re going to need when growth comes back,” she says.

Here are the 10 cities where Pay scale says incomes rose the most:

  • El Paso, Texas
  • Bakersfield, Calif.
  • Omaha-Council Bluffs, Neb.
  • Virginia Beach/Norfolk, Va.
  • Des Moines
  • Honolulu
  • Boise City, Idaho
  • Allentown-Bethlehem, Pa.
  • Charlotte
  • Phoenix

Source: Forbes, Francesca Levy (12/15/2009)