June 11, 2018 Dave Kreider

A recent publication by realtor.com ranked U.S. city housing markets on a “hotness” scale – taking into account housing market supply and demand by number of listing views. Boston has secured a top position as the nation’s #2 hottest housing market for May 2018.

While Californian cities have occupied several top positions in past months, the May rankings are better distributed, with Texas, Ohio, Michigan, Idaho, Colorado, Indiana, Wisconsin and Washington represented in the list. California had dominated the national market list in April 2018, with San Francisco, Vallejo, San Jose, Santa Cruz, Stockton and Sacramento all holding high positions.

In the website’s May publication, director of economic research at realtor.com, Javier Vivas, commented on California’s representation. “The California housing market has been hot for a long time – but maybe too hot. Our May hotness index further confirms we’re seeing that as prices in California continue to soar, people are increasingly looking elsewhere. As we continue into what we expect to be the hottest home-buying season in history, look for a wide variety of locales to remain red-hot.”

In the city’s ranking of median age of inventory, Boston was tied with Midland, Texas at 28 days.

The ranking is based on listing views by market, an indicator of demand, and median days on market, an indicator of supply.

Realtor.com’s May 2018 Hotness Rankings

May 2018 Rank U.S. City May Median Age of Inventory April Rank April Median Age of Inventory
1 Midland, Texas 28 days 1 30 days
2 Boston-Cambridge-Newton, Mass.-N.H. 28 days 2 30 days
3 San Francisco-Oakland-Hayward, Calif. 22 days 3 24 days
4 Columbus, Ohio 31 days 4 32 days
5 Vallejo-Fairfield, Calif. 31 days 5 30 days
6 Boise City, Idaho 31 days 11 34 days
7 Stockton-Lodi, Calif 30 days 8 32 days
8 Buffalo-Cheektowaga-Niagara Falls, N.Y. 33 days 17 41 days
9 Grand Rapids-Wyoming, Mich. 31 days 25 39 days
10 Fort Wayne, Ind. 35 days 30 47 days
11 Colorado Springs, Colo. 30 days 6 30 days
12 Sacramento—Roseville—Arden-Arcade, Calif. 31 days 7 33 days
13 Worcester, Mass.-Conn. 34 days 21 40 days
14 Rochester, N.Y. 37 days 14 38 days
15 Ann Arbor, Mich. 32 days 9 36 days
16 Detroit-Warren-Dearborn, Mich. 37 days 16 40 days
17 Odessa, Texas 34 days 15 37 days
18 Spokane-Spokane Valley, Wash. 33 days 13 34 days
19 Dallas-Fort Worth-Arlington, Texas 37 days 19 38 days
20 Racine, Wis. 39 days 12 38 days

Last year, researchers found that new homebuilding was the single best predictor of increases in home inventory in the U.S. With a wealth of residential developments on the rise in the city, Boston’s 2018 homebuilding forecast is looking bright.

Click below for a link to Boston’s Development #CraneWatch – featuring proposed, approved and constructed developments throughout the city:

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