Technically the housing market is barely ten full days into spring and yet it's already on fire, according to realtor.com’s latest housing market report.
“The early readings on March inventory and activity on realtor.com indicate that early bird buyers are emerging in markets that typically have buyers sidelined with winter weather,” said Jonathan Smoke, chief economist of realtor.com.
And the good news is inventory is starting to pick up. It may be small, but it’s much needed growth.
“While listings continue to see monthly growth, inventory is picking up momentum with the median age of inventory moving 12 days faster than March 2015 and 19 days faster than February 2016. If the monthly inventory trend continues it could lead to a significant uptick in sales this year,” Smoke said.
Another sure sign that spring buying season has started is that properties on realtor.com stayed on the market for only 77 days in March, moving 12 days faster than a year ago and 19 faster than last month.
In addition, the median home was listed increased 8% from one year ago to $238,000. This is also 3% higher than February. For-sale housing inventory is increasing on a monthly basis, but still lower than one year ago.
Markets on the top 20 list receive two to five times the number of views per listing compared to the national average, and these markets are seeing inventory move 32-57 days more quickly than the rest of the U.S.
With out further delay, here are the hottest 20 housing markets in America.
Click chart to enlarge
(Source: realtor.com)
