The Hottest Markets for U.S. Real Estate: Is California's Reign Over?
By Cicely Wedgeworth | Apr 26, 2018
How the mighty have fallen! For the first time in years, California markets aren't fully dominating our monthly list of the hottest markets on realtor.com®. In fact, the Golden State has even ceded its long-held No. 1 spot!
Each month at realtor.com®, we rank the top metro areas where homes sell the fastest, and where eager house hunters are clicking up a storm on our listings. And each month, California reliably hogs the greatest share of the top 20 spots of any state. But while 11 of the top 20 markets in March could be found in the Golden State, in April, that tally had fallen to only six.
That's the lowest number since we started doing this ranking, in 2013.
Nine other states were represented on the top 20 list: Texas (2), Massachusetts (2), New York (2), Michigan (2), Colorado, Washington, Ohio, Idaho, and Wisconsin.
Longtime top dog San Francisco fell to No. 3 in April, ceding the throne to ... Midland, TX, which had previously been at No. 5. Second place went to Boston, which just hosted its famous marathon.
(The definition of big-city markets often include neighboring towns. For example, the San Francisco market includes nearby Oakland and Hayward, and the Boston market includes Cambridge, Newton, and a tiny slice of New Hampshire.)
The top movers for the month are Racine, WI (up 28 spots from March); Rochester, NY (up 14); and Detroit (up 13). Columbus, OH, moved up five spots to reach No. 4, the highest it’s ever reached in our ranking.
Realtor.com’s hottest markets receive 1.6 to 2.7 times the number of views per listing compared to the national average. These markets are seeing homes move off the market 17 to 40 days more quickly than the rest of the United States.