Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Mortgage

Here are the 20 hottest housing markets right now

Denver moves into first place

While there wasn’t a lot of movement in the hottest housing markets in October, this isn’t necessarily a bad thing, according to the latest housing report from realtor.com.

In October’s hottest 20 housing markets, the markets received 1.8 to 3.6 times the number of views per listing as the national average, and they also saw inventory move 30 to 47 days more quickly than the rest of the U.S.

Additionally, they witnessed the days on market drop by a combined average of 19% year over year.

Denver regained the top spot this month as Los Angeles, San Jose, and Denver all gained the most relative strength in the ranked markets.

realtor.com said it reviewed listing views by market as an indicator of demand and median days on market as an indicator of supply, which led to the identification of the 20 hottest medium-size to large markets in the country.

Here are this month’s top 20 hottest housing markets.

20. Fort Wayne, Indiana

19. Modesto, California

18. Ann Arbor, Michigan

17. Boulder, Colorado

16. Detroit, Michigan

Mich

15. Oxnard, California

14. Nashville, Tennessee

13. Midland, Texas

12. Santa Cruz, California

11. Stockton, California

10. Los Angeles, California

California

9. Yuba City, California

8. Santa Rosa, California

7. Sacramento, California

California

6. San Diego, California

Calif small

5. Vallejo, California

4. Dallas, Texas

3. San Francisco, California

California

2. San Jose, California

1. Denver, Colorado

Here’s a link to last month’s hottest housing markets.

The report explained that there are continued signs of a fall slowdown, with total listings dropping, leaving buyers with fewer choices.

The median age of inventory is now 81 days, up one day from September but down three days, or 7%, from last year.

“October saw little change in the for-sale housing market other than the typical seasonal decline in demand and inventory,” said Jonathan Smoke, chief economist for realtor.com. “Collectively, the inventory metrics speak to a stable and strong housing market that has moved into the slower part of the year.”

Most Popular Articles

Better.com lays off LOs, secures $750M cash injection

Digital mortgage lender Better.com is laying off 9% of its workforce ahead of a $750 million cash injection from financial backer SoftBank Group.

Dec 01, 2021 By

Latest Articles

What Omicron, bond market and jobs mean for housing

We often have two to three job reports per year that miss estimates badly. However, remember that we have over 10 million job openings.

Dec 03, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please