Northeast and Midwest Dominate Hottest Housing Markets List
Manchester-Nashua and Rochester tie for top honors in February; Cincinnati moved the most places, soaring to 30th.
It’s becoming more about affordability and finding those niche markets where housing prices are “hottest,” according to criteria used in a new report from Realtor.com.
Manchester-Nashua, N.H.; and Rochester, N.Y., were tied as the country’s hottest housing markets in February.
Elsewhere, there are five metros in Ohio as part of the top 20, which overall, are spread across 11 states.
Hardly one to make headlines, Manchester-Nashua nonetheless has placed in the top 20 some 20 times and Rochester has ranked number one in the data history seven times.
Cincinnati was the “hottest” market in February, climbing 165 spots to rank as 30th. The report said that in Q4 2022, Cincinnati received the most (25%) out-of-metro attention from viewers in the nearby New York City metro area.
Eight Midwest markets cracked the top 20. From Ohio, Columbus ranked fifth; Dayton, 11th; and Akron, 12th.
The Hottest Housing Markets, by design, are the areas where homes sell fastest and have lots of potential buyers checking out each listing, suggesting relatively favorable conditions for sellers.
As a group, Realtor.com’s 20 Hottest Housing Markets received 1.5 to 3.4 times the number of viewers per home for sale compared to the national rate.
“These markets are seeing homes-for-sale move up to 36 days more quickly than the typical property in the United States,” Realtor.com said.
It’s Good to Be Near Boston
The Northeast held nine spots on February’s list and garnered an average of 2.4 times the number of views per property as the typical US home.
The hottest markets included two locales from Massachusetts and Connecticut, and one each from Pennsylvania, Rhode Island, New York, and New Hampshire.
“The Hartford metro is a particular stand out as it was ranked number one in the Top Markets Forecast for 2023,” according to Realtor.com.
“The Manchester-Nashua, Springfield, and Worcester metro areas all surround the Boston metro area, which is also on this month’s list, emphasizing the demand to be near this Northeast hub.”