What city has the hottest housing market?

Manchester, NH, remains at the top of the list of most popular housing markets in April, ranking first for the tenth time in the past year. The 20 most popular markets are spread across 13 states, with multiple metropolitan areas in North Carolina, Indiana, Massachusetts, New Hampshire and Tennessee. Before the coronavirus recession, Utah's housing market was on fire. Then came the COVID-19 pandemic, which sent residents of Northern California and Seattle in search of affordable housing and more space, and an already hot market became hotter.

Dave Robison, former president of the Utah Association of Realtors, summarizes the activity in a simple way. Of course, every boom brings its downsides. In some cases, newcomers to the Utah housing market are full of cash and willing to drive up prices. The housing heat index shows how state housing markets are doing in the coronavirus-driven housing boom and how they could perform in the future.

You may just need to be a little more creative and adjust your expectations until the Tampa housing market cools down. As homes continue to rise in price, it's important for buyers to get pre-approved mortgages to stay competitive when looking for a home. According to Tucker, it will be other, less emotional forces, at the macro level, that are likely to curb the current housing boom nationwide. In the meantime, if you live in one of these downstairs cities, it might be time to consider taking out your capital (or leveraging it) while you can before inventory and mortgage rates start to rise again.

So it's this vicious circle where they go down, they have to rent because they can't find anything, and then they compete against corporate buyers who then use them to rent again to these same people who can't find a home. As the housing boom breaks out nationwide, all states saw property values rise during the 12 months ending September Look at townhomes, anything in that lower price range that may not be attractive for big corporations to take cash. He also points out that the cities on the list are not particularly sensitive to rising mortgage rates or declines in the stock market, which have the potential to depress the housing market in the coming months. The index exceeds house price appreciation, the metric that most clearly conveys the desirability of a housing market.

Compared to other popular housing markets, Bakersfield has a lower cost of housing and a large number of job opportunities. Tampa's housing boom comes at a time when the 30-year average fixed mortgage rate has risen above 5%. As you begin your homebuying journey, it's important to know the most popular housing markets and the pros and cons of each.