New Report Shows What Determines America’s Hottest Housing Markets
In January, Manchester, New Hampshire, reined again as the United States’ hottest housing market, according to a newly published report by Realtor.com.
This New Hampshire market reclaimed the top spot after previously being sidelined by Rockport, Illinois, in December and Springfield, Massachusetts, in November.
According to Newsweek, Homebuyers across the U.S. are facing a widespread affordability crunch that has kept them on the sidelines of the market over the past few years. While growing inventory in parts of the country offers buyers more options and is likely to slow the pace of price growth in these regions, other parts are seeing demand grow while inventory shrinks further.
These markets, according to Realtor.com, are the hottest in the country—which benefits sellers much more than buyers.
The five hottest housing markets in the country last month, according to Realtor.com, were Manchester, New Hampshire; Hartford, Connecticut; Kenosha, Wisconsin; Norwich, Connecticut; and Worcester, Massachusetts.
Manchester, Realtor.com experts say, is facing high demand from buyers at the same time as inventory remains low and continues shrinking, making the market extremely competitive.
Homes in the city received two offers on average in December, according to Redfin data, and sold in about 31 days. Realtor.com reported that in January, homes lingered on the market for 46 days before being sold, much lower than the national median of 73 days.
