Morning Briefing: This is the most competitive US housing market

Competition among homebuyers is the strongest in Seattle with Boston not far behind. A report from Redfin shows that two neighborhoods in Seattle top the rankings of the most competitive markets in the US – Factoria and University District – with Boston’s Washington Sq., and Prospect Hill in 3rd and 4th place respectively. San Francisco’s Inner Richmond neighborhood completes the top 5. The list is ranked by median days on market, the average sale-to-list price ratio and home price growth. In Factoria, Seattle for example, homes went under contract in an average 7 days, sold for 5 per cent above asking price and prices were up 26 per cent year-over-year.

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