Top 20 Housing Markets in the US are in Northeast and Midwest: Realtor.com
Originally published on May 23, 2023, by Hannah Jones for Realtor.com.
Highlights
- Concord, NH was the country’s hottest housing market in April, topping the list for the second time in the data’s history.
- The top 20 hottest markets are spread out across 11 states, with three metros in both Massachusetts and Connecticut.
- As price growth continues to slow nationwide, affordability remains a feature of the majority of April’s hottest markets.
- Only the Northeast and the Midwest were represented on this month’s hottest market list for the second month in a row. The Northeast was represented by 12 markets while the Midwest boasted 8.
- The St. Louis metro area saw the largest increase in its hotness ranking among larger metros compared to last year, climbing 115 spots to rank as the 91st hottest US market in April.
Concord, New Hampshire ranked as April’s hottest housing market. This is the 2nd time in the metro’s history that Concord has ranked as the nation’s hottest market. The first time Concord topped the list was in June 2022 and Concord has only been absent from the Top 20 list for 3 of the last 16 months.
Realtor.com’s Market Hotness rankings take into account two aspects of the housing market: 1) market demand, as measured by unique views per property on Realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on Realtor.com.
Relative Affordability Remains Important for Constrained Buyers
Overall, 13 of April’s hottest markets had median listing prices below the national median. The lowest priced market, Rockford, IL, had a median listing price of $180,000, 58.1% lower than the country’s April median listing price of $430,000. The average listing price for the 20 hottest markets climbed compared to last month as pricey Northeast markets joined the list, including the Boston metro. The average listing price of the top 20 markets was $409,000 in April, 4.9% lower than the national median.