The folks at Realtor.com have come out with their list of the top 20 hottest housing markets in the United States…and, no surprise, California dominates the rankings.
Not for the first time, our beloved city by the bay, San Francisco, takes the top prize as the hottest housing market in the entire United States. Once again, as in so many other ways – the city is #1.
A lot of other northern California cities made the top 20 however:
- #3: Vallejo
- #4: San Jose
- #5: Sacramento
- #7: Santa Rosa
- #10: Stockton
- #11: Santa Cruz
- #13: Chico
- #15: Modesto
- #17: Fresno
And, in fairness to our southern cousins, I’d like to point out that these other great California towns made the list:
- #9: San Diego
- #14: Oxnard
- #20: Los Angeles
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You may be asking, how did they determine which housing markets are the hottest? It’s not about how much prices are rising year over year. Their magic formula is quite simple:
Using the key indicators of days on market and listing views per market, realtor.com came up with its monthly list of the hottest real estate markets in the nation.
OK, so maybe that’s not the most scientific method in the world to determine the hottest housing markets. But it’s at least pretty good anecdotal evidence, strong enough to make me ask:
What are you waiting for?
This is the hottest seller’s market we’ve seen since…well, that’s hard to say, because the market has been pretty hot for years. It’s like the weather now – fire season is year round, and the seller’s market just keeps going too.
But it won’t keep going forever! A recession is coming – it’s only a question of when. Why play chicken with the economy? If you’re looking to capitalize on the enormous gains the real estate market has enjoyed over the past several years, I encourage you to contact me today.