December 2018 20 Hottest Markets
Realtor.com’s Hottest Markets receive 1.4 to 2.6 times the number of views per property compared to the national average. In terms of supply, these markets are seeing inventory move 13 to 43 days more quickly than the rest of the US. The hottest markets are also seeing inventory move more quickly than last year. The median time spent on the market is 2 days faster for the hottest markets on average from last December. While these markets remain hot, there is evidence of deceleration as the national housing market begins to cool. This is the smallest yearly change in age of inventory since December 2016 for our Top 20 markets.
Chico’s surge from 16th place to the number one spot signals the market aftermath following the tragic Camp Fire in the area. With so many families displaced from that event, demand for housing swelled, showing up in boosts to local property views on Realtor.com, as well as a spiking the pace of homes being sold, both of which factor into our Market Hotness rankings. With the existing inventory forced to absorb the sudden demand, the market is very tight right now and it remains unclear if it will ease as things settle down in the coming months. For now, Chico remains relatively affordable compared to the rest of the state.
Midland, TX slipped to number two in December, with Odessa, TX outpacing other top contenders for the number three slot. This month, 11 states were represented including California, Texas, Ohio, Indiana, Colorado, Massachusetts, Michigan, Idaho, Kentucky, Tennessee, and Illinois. California markets still outnumbered others, with 7 markets making it to the top list. However, Californian markets which have historically dominated the list, like San Francisco, San Jose, Vallejo, and Stockton-Lodi have either disappeared from the list or decreased in ranking over the previous year. Big movers in California included the smaller and more affordable markets of Chico and Bakersfield, each moving up the ranking by 28 and 12 spots, respectively.
New to the Top 20 are Rockford, IL and Akron, OH. Although not the largest markets, these metro areas sit just beyond some of the most active markets in the country — Milwaukee, WI, and Cleveland, OH, respectively. Rockford and Akron not only benefit from the rising popularity of their neighboring markets, but also provide more affordable homes for those who are willing to commute. The median list price in Rockford is $130,000 compared to $245,000 in Milwaukee. The median list price in Akron is $150,000 compared to $170,000 in Cleveland.
December 2018 Most Improved Markets
Affordability was a big factor in the most-improved markets overall. Of the largest 40 metros, the most improved metros were Cleveland, OH (+50 spots); Providence, RI (+42 spots); Cincinnati, OH (+35 spots); Philadelphia, PA (+32 spots); and Milwaukee, WI (+32 spots). Four of the five most improved markets have a lower median listing price than the national price of $289,000, the exception being Providence, which has a fairly comparable median listing price of $339,000.
On the supply side, the most-improved markets combined are seeing inventory move 7 days faster than this time last year. Additionally, inventory is down between 3 and 6 percent in three of the five markets, and essentially flat in a fourth market, a trend which diverges from the national inventory gain of 5 percent. The outlier of the group is Providence, which has seen inventory grow by 20 percent. On the demand side, buyer interest in these most-improved markets is also rising, with listing views 1.5 times higher than the national average and increasing 8% year-over-year on average.
December Top 20 Hottest Housing Markets
| Metro | Rank | Rank YY | Median Days on Market | Days on Market YY | Views Per Property YY | Median Listing Price | Listing Price YY |
| Chico, CA | 1 | 28 | 37 | -31 | 76% | $330,000 | 15% |
| Midland, TX | 2 | 18 | 52 | -13 | 22% | $350,790 | 13% |
| Odessa, TX | 3 | 41 | 55 | -12 | 44% | $270,000 | 32% |
| Columbus, OH | 4 | 5 | 59 | -1 | -6% | $229,900 | 5% |
| Fort Wayne, IN | 5 | 7 | 61 | 0 | 37% | $179,900 | 11% |
| San Francisco-Oakland-Hayward, CA | 6 | -4 | 51 | 6 | -24% | $855,000 | -4% |
| Sacramento–Roseville–Arden-Arcade, CA | 7 | 0 | 59 | 1 | 1% | $449,000 | 2% |
| Colorado Springs, CO | 8 | -4 | 59 | 4 | -10% | $369,900 | -3% |
| Boston-Cambridge-Newton, MA-NH | 9 | 7 | 65 | 1 | 25% | $499,900 | 2% |
| Stockton-Lodi, CA | 10 | -5 | 54 | 6 | -8% | $399,000 | 4% |
| Vallejo-Fairfield, CA | 11 | -8 | 58 | 13 | -13% | $449,000 | 2% |
| Rockford, IL | 12 | 53 | 62 | -12 | 24% | $129,900 | -4% |
| Detroit-Warren-Dearborn, MI | 13 | 4 | 59 | -2 | -2% | $220,000 | 6% |
| Yuba City, CA | 14 | 8 | 67 | 2 | 36% | $306,000 | 2% |
| Dallas-Fort Worth-Arlington, TX | 15 | -4 | 65 | 6 | -2% | $332,590 | -2% |
| Nashville-Davidson–Murfreesboro–Franklin, TN | 16 | 9 | 52 | 6 | 20% | $349,900 | -2% |
| Modesto, CA | 17 | -7 | 56 | 5 | 2% | $344,700 | 0% |
| Louisville/Jefferson County, KY-IN | 18 | 25 | 63 | -6 | 32% | $240,000 | 9% |
| Akron, OH | 19 | 50 | 66 | -4 | 49% | $149,900 | 5% |
| Boise City, ID | 20 | 4 | 55 | -5 | 10% | $334,900 | 13% |
December’s Most-Improved Major Housing Markets
| Metro | Rank | Rank YY | Median Days on Market | Days on Market YY | Views Per Property YY | Median Listing Price | Listing Price YY |
| Cleveland-Elyria, OH | 45 | 50 | 73 | -6 | 35% | $170,000 | 7% |
| Providence-Warwick, RI-MA | 50 | 42 | 67 | -7 | 24% | $339,000 | 4% |
| Cincinnati, OH-KY-IN | 40 | 35 | 63 | -6 | 29% | $233,500 | 9% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 62 | 32 | 76 | -5 | 34% | $250,000 | 5% |
| Milwaukee-Waukesha-West Allis, WI | 22 | 32 | 61 | -11 | 23% | $244,900 | 14% |