Hottest Markets, Rates Holding Steady, Portland Metro Update

Smaller metro regions across the US are seeing rapid growth. Below is a list of the top 20 according to Realtor.com.

The hottest markets ranking is based on where homes sell the fastest and where there are the most listing views on realtor.com—both a sign of buyer demand. Metro markets often include surrounding smaller towns.

MetroRank (May 2019)Rank (May 2018)Median Days on Market
Rochester, NY1631
Fort Wayne, IN22134
Lafayette-West Lafayette, IN33031
Boston-Cambridge-Newton, MA-NH4230
Midland, TX5134
Columbus, OH6535
Manchester-Nashua, NH71737
Spokane-Spokane Valley, WA .81531
Yuba City, CA93537
Pueblo, CO103735
Worcester, MA111036
Sacramento–Roseville–Arden-Arcade, CA121835
Springfield, MA132237
Grand Rapids-Wyoming, MI14431
Vallejo-Fairfield, CA15329
Buffalo-Cheektowaga-Niagara Falls, NY161336
Boise City, ID17830
Stockton-Lodi, CA186729
Canton-Massillon, OH196432
La Crosse-Onalaska, WI202936
10 Year US Treasury Note Previous Quarter Day Trading Range

Rates – after improving dramatically in May to the best levels since September 2017 rates are holding steady in June as the 10 Year US Treasury Note trades in a narrow range.

Portland May Numbers: in May Portland Metro was 31 homes shy of 3,000 closed sales which is 5.9% increase from the previous year and a 23.2% increase from April. This is the strongest report for May closings in 13 years.

An additional 4,902 properties were listed in May and inventory decreased marginally to 2.1 months. Average time on market is now 48 days.

In the past 12 months the average sales price has increased by 0.9% to $452,700 and the median sales price is up 0.7% to $402,400

Thanks to David Caldwell for breaking down the numbers.

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