Top 10 Hottest Cities according to Realtor.com

Top 10 Hottest Cities according to Realtor.com
Mortgage rates have remained between 6 to 7% which has put a lot of pressure on house affordability because the monthly mortgage payments has soared. Prospective homeowners are flocking to both affordable markets and markets that are close to large cities.
The most buyer demand is occurring in affordable Midwest markets and well-located Northeast markets that offer both convenience and value. These homes tend to be larger than the US average. Despite how hot these markets are, home prices are at or below the US median.
I think the story here is that affordable housing markets are becoming more popular as prospective homeowners are pushed out of unaffordable areas. Another possible trend that is occurring is that high earning households are relocating to the suburbs of large cities for a better quality of life which corresponds to house affordability.
10) Ballwin Missouri: Ballwin is approximately 20 miles west of downtown St. Louis and has an economy that is a mix of retail, healthcare, and other businesses. Residents can commute to St. Louis for both work and education.
9) Pittsford, New York: You will find Pittsford in the Finger Lake region of New York state just south of Rochester. It has a good school system. There are a lot of outdoor recreational opportunities. Residents may opt to work in Rochester.
8) Norwalk, Connecticut: Norwalk is about 40 miles northwest of NYC. Employment opportunities include finance, healthcare, technology, and manufacturing. There are highway and rail connection to the city. This could be a good choice for someone that wants to commute to NYC.
7) Trenton, Michigan: Situated 20 miles southwest of downtown Detroit, along the Detroit River, there are a lot of employment and recreational opportunities. There are several large manufacturing operations. The median household income is $78,000 versus the US average of $70,000. This could be a good city for working class families.
6) Highland, Indiana is about 27 miles southeast of downtown Chicago. One of my teachers used to joke that northwest Indiana is just a suburb of Chicago. This would be a good choice for someone that wants Indiana state government over Illinois so they can enjoy less taxes. You can take the highway to Chicago to commute for work or play.
5) Nazareth, Pennsylvania: Nazareth is 65 miles west of NYC and 60 miles north of Philadelphia. This might be a good city if you can do remote work and only have to show up to the office in NYC or Philadelphia a few times a month. This is going to be a small town with limited local opportunities including a textile plant, a guitar company, and cement manufacturing.
4) Andover, Massachusetts: Andover is a suburb of Boston and features good schools and scenery. It is 20 miles north of Boston. It has an excellent college prep school and a rich history that dates back to the 17th century.
3) Ridgewood, New Jersey: Ridgewood is 20 miles northwest of Manhattan. You can commute by rail. There are good schools here and the downtown is charming. You might even be able to get away with not owning a car here.
2) Southington, Connecticut: This town is 20 miles southwest of Hartford, the state capital. You should be able to commute easily using the highways. The median income is over $110,000.
1) Gahanna, Ohio: This city is a suburb of Columbus, the state capital. Columbus international airport is nearby. There are always a lot of jobs at large airports. In addition, there are a variety of jobs in Columbus including manufacturing.
So there you have it: the top cities for 2023. As you can see, affordability is a big component of what is driving housing decisions. This is the first time that Realtor.com has only two regions represented, those were the Northeast and the Midwest. Almost all of the ten feature more living space. You are seeing inventories struggling to keep up with the quick pace of sales. Buyers are generally well qualified because the housing market is competitive.
Works Cited:
https://www.realtor.com/research/hottest-zip-codes-2023/?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_7707852
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