November’s Hot List: The Top 20 Markets

November 28, 2016

California real estate professionals are staying busy. Cities in California continue to dominate lists of the most booming housing markets in the country. But they’re not alone. Many markets across the country are seeing elevated sales this fall.

“After an eventful election, demand for real estate appears to be carrying momentum going into the holiday season,” says Javier Vivas, manager of economic research for realtor.com®. “We expect that to be put to the test, as mortgage rates sky rocket to new highs. But forecasts expect growth as we enter the new year, which should keep waves of buyers intent on entering the market.”

Inventory of homes for sale is down 5 percent in November from October, but the combo of low supply and high demand is keeping prices high, realtor.com® notes. The median list price nationwide remained at $250,000 for the fourth consecutive month, a new record for November.

Realtor.com® flagged the following 20 markets as the hottest in the country in November, where homes are selling the fastest and demand is highest (based on page views): 

  1. San Francisco
  2. Dallas
  3. Vallejo, Calif.
  4. Denver
  5. San Jose, Calif.
  6. San Diego
  7. Stockton, Calif.
  8. Fort Wayne, Ind.
  9. Columbus, Ohio
  10. Detroit
  11. Sacramento, Calif.
  12. Boston
  13. Santa Rosa, Calif.
  14. Fresno, Calif.
  15. Modesto, Calif.
  16. Billings, Mont.
  17. Nashville
  18. Los Angeles
  19. Oxnard, Calif.
  20. Colorado Springs, Colo.

Source: “The 20 Hottest U.S. Real Estate Markets for November 2016,” realtor.com® (Nov. 23, 2016)