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.
| Metro | Rank (May 2019) | Rank (May 2018) | Median Days on Market |
|---|---|---|---|
| Rochester, NY | 1 | 6 | 31 |
| Fort Wayne, IN | 2 | 21 | 34 |
| Lafayette-West Lafayette, IN | 3 | 30 | 31 |
| Boston-Cambridge-Newton, MA-NH | 4 | 2 | 30 |
| Midland, TX | 5 | 1 | 34 |
| Columbus, OH | 6 | 5 | 35 |
| Manchester-Nashua, NH | 7 | 17 | 37 |
| Spokane-Spokane Valley, WA . | 8 | 15 | 31 |
| Yuba City, CA | 9 | 35 | 37 |
| Pueblo, CO | 10 | 37 | 35 |
| Worcester, MA | 11 | 10 | 36 |
| Sacramento–Roseville–Arden-Arcade, CA | 12 | 18 | 35 |
| Springfield, MA | 13 | 22 | 37 |
| Grand Rapids-Wyoming, MI | 14 | 4 | 31 |
| Vallejo-Fairfield, CA | 15 | 3 | 29 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 16 | 13 | 36 |
| Boise City, ID | 17 | 8 | 30 |
| Stockton-Lodi, CA | 18 | 67 | 29 |
| Canton-Massillon, OH | 19 | 64 | 32 |
| La Crosse-Onalaska, WI | 20 | 29 | 36 |
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.