Where Home Listings Are Sizzling This Summer

first_img July 5, 2018 660 Views homes HOUSING Inventory market Realtor.com Supply texas 2018-07-05 Radhika Ojha Share Where Home Listings Are Sizzling This Summercenter_img in Daily Dose, Data, Featured, News Midland, Texas held on to its top spot as the hottest housing market in the United States in June, according to the June Market Hotness Index published by Realtor.com on Tuesday. The monthly index ranks regions based on the median days that a home remains on the market.At 29 days, homes in Midland remained an average of one day more on the market in June compared with May, selling the fastest among the 20 markets that Realtor.com analyzed. Columbus, Ohio jumped two places to the second spot on the rankings with an average median age of inventory recorded at 32 days in June. The Boston-Cambridge-Newton area in Massachusetts-NewHampshire came in third, slipping one place from its May rankings, with homes that remained on the market for an average of 34 days.Homes in Fort Wayne, Indiana and Boise City, Idaho stayed on the market for an average of 34 and 33 days respectively earning them the fourth and fifth spot on the index. While Fort Wayne moved six spots from its May rankings, Boise City moved up one rank.The hotness index, which has been historically dominated by regions across California has seen the dominance of the Golden State dropping. In June, the state claimed only five of the top 20 markets, with 10 other states—Texas, Ohio, Massachusetts, Indiana, Idaho, New York, Colorado, Michigan, Wisconsin, and Washington representing a bulk of the regions on the index.San Francisco-Oakland-Hayward, Vallejo-Fairfield, Sacramento-Roseville-Arden Arcade, Stockton-Lodi, and Santa Cruz-Watsonville were the only California regions on the list. They were ranked 6th, 7th, 13th, 16th and 20th respectively.The biggest mover in the ranking was the Kennewick-Richland area in Washington, which moved 46 spots from 61st rank in May to 15th in June. Homes in this market had a median age of inventory of 38 days in June compared with 44 in May. Racine Wisconsin, which was ranked 11th in June also moved up nine spots from May.Read more about Realtor.com’s May rankings:The Hottest Housing Market in America is …last_img read more