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Amid scarce supplies and high buyer demand, homes are selling fast across the country. Home prices are rising as well: The nationwide median home list price rose above $250,000 for the first time, realtor.com® reports. The median list price is 10 percent higher than a year ago.
Read more: Why Housing Is on Track for a Good Year
“With a record number of home buyers out there, this is officially the most competitive, fastest-moving spring housing market in decades,” says Javier Vivas, manager of economic research at realtor.com®. “Following a furious start to the season, the median days on the market for homes on realtor.com® in May is the lowest since the end of the recession, and marks the first time that one in three homes is selling in under 30 days nationally.”
The hottest markets nationwide in May continued to be centered in California, with the Bay Area seeing some of the fastest sales in the country and most viewings of listings from visitors on realtor.com®. Here is realtor.com®’s full ranking of the hottest housing markets for May 2017:
Source: “America’s Hottest Real Estate Markets in May 2017,” realtor.com® (June 1, 2017)
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