June 2022 The hottest housing market

Highlights

  • Concord, New Hampshire ranked first on the list of the hottest housing markets in June, taking the number one spot in data history.
  • The top 20 markets are spread across 11 states, with three metros each in Indiana and Wisconsin.
  • as prices Continue to rise nationwideIn June, affordability remains the key feature of the hottest markets, with 16 markets below the national average listing price.
  • There are no markets for the Western Region on this month’s list for the first time in data history.
  • The Cincinnati, Ohio metro area saw the largest increase in its temperature ranking among the largest metro areas over last year, climbing to 108 locations to rank 67th as the hottest US market in June.

Concord, New Hampshire took first place in the list of the hottest housing markets in June, replacing neighboring Manchester-Nashua which had held the top spot for 9 of the past 12 months. This region has been in the top 5 hottest markets since March 2022, but it didn’t rank first in data history. Manchester first climbed into the top 20 in June 2018, and has regularly appeared in the top 20 since early 2021.

Realtor.com’s Market Hotness Rankings take into account two aspects of the housing market: 1) market demand, as measured by unique viewers for each property on Realtor.com, and 2) market pace as measured by the number of listing days still active on Realtor.com .

Buyers continue to search for affordability

There are no Western region markets on the list this month, which is a departure from the June 2017-2021 average of 7 hot Western markets. The popularity of western markets tends to wane in the summer months, but these markets have never in data history gone completely off the list. Expensive western markets have been replaced by more affordable markets in the Northeast and Midwest, which account for 19 of the 20 hot markets. Overall, average listing prices in 16 of the hottest markets in June were lower than the national average. The average listing price in the 20 hottest markets was $359,000 in June 2022, 20.3% lower than the National brokerthe largest gap between the metrics since then August 2021. Overall, 11 states were represented on our list of the top 20 housing markets in June as no-go buyers in affordable urban states.

Both Indiana and Wisconsin boasted 3 markets on the list in June, tied for most places in any state. Indiana brought affordability to the list for a second month with Elkhart-Goshen, Fort Wayne and Lafayette-West Lafayette returning to the list as 3 of the 6 least expensive hot markets in June. Other Midwest markets on the list were Topeka, Kansas, Oshkosh, WI, Racine, WI, La Crosse Onalaska, WI, and Columbus, Ohio, all of which were priced more than $100,000 below the national average. The least expensive market on the list was Topeka, KS, where the median home price was $225,000 in June. The Northeast held 11 spots on the list this month, tied with May for the most on the list in data history. Hot markets in the Northeast included Rochester, New York, and Bangor, MI, which are two of the three least expensive metro stations on the list. The Northeast region was also represented at the top of the list by three more expensive hot markets: Portland, Middle East, Burlington, VT and Manchester-Nashwa, New Hampshire. The only Southern District market on the list was Burlington, North Carolina.

The states on our top 20 list this month are: ConnecticutAnd the IndianaAnd the kansasAnd the MassachusettsAnd the whoAnd the North CarolinaAnd the New YorkAnd the New HampshireAnd the OhioAnd the Vermont And the Wisconsin.

Our best housing markets, by design, are the areas where homes are selling faster and have a lot of potential buyers checking every listing. As a group, 20 of Realtor.com’s top housing markets received 1.5 to 3.2 times more viewers per home for sale than the national price. These markets see homes for sale for up to 20 days moving more quickly than typical US properties.

The national median home price for active listings hit a new high of $450,000 in June, up 16.9% year over year. Most of the month of JuneThe hottest markets are the Midwest and Northeast markets at relatively reasonable prices. Hottest markets saw average listing prices reach $359,000 in June20.3% less, on average, than the national average of $450,000. Notably, the most expensive market on the list is Portland, Middle East, where the median home price reached $549,000 in June, 22.0% more expensive than the median home price in the United States. Mortgage rates increased by 279 basis points at the end of June 2022 compared to the end of June 2021. Buyers’ attention has shifted towards affordability as high interest rates and meager inventory have made it difficult for many to find a suitable home in their price range. However, recent trends offer hope on the horizon for buyers as active inventory has taken a turn and price growth begins to slow.

June 2022 – Top 20 Hottest Housing Markets

hottest metro Gravity Rank Temperature rating compared to last year Viewers per site vs. US Average days in the market Number of days on the market compared to last year Average listing price if active over a period
Concord, New Hampshire 1 3 3.2 13 -4 $457,000
Manchester Nashua, New Hampshire 2 -1 2.6 12 2 $478000
Burlington – South Burlington, Vt. 3 36 2.2 16 -8 484,000 dollars
Portland South Portland, Maine 4 1 2.4 20 3 $549,000
Burlington, North Carolina 5 -2 2 18 -1 380 thousand dollars
Rochester, New York 6 4 1.8 12 1 230 thousand dollars
La Crosse Onalaska, Wes. who. 7 22 2.2 22 -7 $335,000
Hartford – West Hartford – East Hartford, Connecticut. 8 54 1.8 21 -8 $375,000
Oshkosh Nina, Wes. 9 48 2.4 23 -11 $300,000
Elkhart-Goshen, Ind. 10 -2 1.6 19 2 $279,000
Worcester, Massachusetts. 11 6 1.6 16 0 450 thousand dollars
Springfield, Massachusetts. 12 9 1.6 21 -1 $362,000
Columbus, Ohio 13 5 1.5 17 2 350 thousand dollars
Topeka, Kan. 14 -3 1.7 23 9 $225,000
Fort Wayne, India. 15th -13 1.6 23 9 $286,000
Claremont Lebanon, NH-Vt. 16 140 2.3 26 -17 399,000 dollars
Racine, Wes. 17 67 1.7 24 -12 $325,000
Lafayette West Lafayette, Indiana. 18 -2 1.6 24 4 $289,000
New Haven Milford, Connecticut. 19 66 1.5 23 -6 $362,000
Bangor, Maine 20 12 1.8 26 0 $254,000

Concord, New Hampshire takes top spot for the first time

The Concord, New Hampshire The metro area has been regularly featured in the top 20 hottest markets since early 2021, and ranked in the top 5 for the past three months before hitting the number one spot in June. Homes in Concord sold out in less than 13 days in June — 4 days faster than last year, and 19 days faster than usual in the rest of the country. Metro properties attracted 3.2 times more unique viewers per property than the typical home across the United States.

The median listing price for homes in the Concord area was $457,000 in June, up 20.5% year over year, faster than the 16.9% advance in the national average listing price in the same period. A typical Concorde home listing is priced 1.6% above the national average price of $450,000. Concord offers an affordable alternative to nearby Boston, Massachusetts where the median listing price reached $759,000 in June, and to the second-hottest market, Manchester Nashua, where homes are priced 6.2% (about $20,000) higher than Concorde . Home prices have grown year on year in Concord due to the overall price growth and shift in the home size mix. More larger homes were listed on Concord in June, with 60.0% of homes over 1,750 square feet listed, compared to just 55.2% last June. All volume classes experienced price growth.

Most improved big market

The largest urban markets held steady in the rankings this month, with the 40 largest markets across the country remaining in their ranking, on average, since June 2021.

Among the 40 largest metros, the three most improved residential markets were all in the Midwest: Cincinnati, Ohio (+108 points), Indianapolis, IN (+66 points), Milwaukee, Wisconsin (+57 points). These markets offered highly desirable affordability with listing prices 17.3% to 28.9% below the $450,000 national average. The fourth and fifth markets were the most improved Boston, Massachusetts (49 sites), and San Diego, California (+40 points).

The Cincinnati, Ohio housing market experienced the fastest annual growth in data history for the metro, positioning it as the fastest-rising large market in June. In the The first quarter of 2022This metro received the most attention from viewers in the Dayton, Ohio, Detroit, Michigan, Chicago, and Illinois metro areas. In June, the Cincinnati area increased by 108 sites in attractiveness rank compared to last year. The metro area ranked as the 67th hottest in the US, coming close to 58th before the pandemic in June 2019. matching The national trend of homes that spend little available time for salea typical Cincinnati home spent 28 days in the market, the shortest time ever for a metro. On the demand side, metro real estate garnered 13.0% more viewers than typical U.S. real estate.

With Metro Western Region exiting the top 20 hottest markets for the first time, the city of San Diego, California, rose to the fifth most improved large market this month. This improvement is largely a function of homes spending just 22 days on the market in San Diego, the second shortest time to market in data history and 10 days less than the US average. Interestingly, given the area’s higher cost, homes in the San Diego metro area were attracting only 59.1% more viewers than typical American properties, the relatively lowest viewership for the area in the data history. Instead, the temperature of this metro was driven by the fast pace of the market, indicating that competition is fierce in the San Diego metro area.

On the supply side, the top five most improved markets saw inventory move 3 days faster than last year. In comparison, the 40 largest markets overall saw real estate spend two days less in the market than last year, on average. The typical drug spent 26 days on the market in the most improved metro area, 6 days less than the national standard.

Markets witnessing the biggest jump in ratings (June 2022)


Hannah Jones

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