BAY AREA FALLS OFF LIST OF HOTTEST HOUSING MARKETS
Bay Area housing markets dropped even further on realtor.com’s list of the nation’s hottest real estate markets in June, marking the first time a California metropolitan area was not among the top five markets in six years.
The San Francisco-Oakland-Hayward area fell to No. 6 on the monthly list, down from No. 3 in May. Vallejo-Fairfield slipped to seventh place in June, from fifth in May, as more-affordable markets move up the ranks. On average, housing markets with prices below realtor.com’s national median list price of $299,000 jumped 12 ranking spots year-over-year.
June’s ranking shows that super-competitive markets are increasingly scattered throughout the country instead of dotted along the high-priced West Coast. Midland, Texas, was first among the hottest markets, followed by Columbus, Ohio; Boston; Fort Wayne, Indiana; and Boise City, Idaho.
“As the record pace of sales continues to challenge would-be homebuyers, the hottest market rankings show that buyers are looking for markets that offer relative affordability,” Danielle Hale, chief economist at realtor.com, said in a statement released with the June ranking.
