The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Real Estate

Here are 2020’s hottest housing markets according to ZIP code

Colorado Springs tops the list

Compared to last year, the housing market this year has seen some big changes. Notably, people are moving inland from the large cities as the pandemic has created a coastal exodus, prompting apartment dwellers to seek more space and big yards.

Realtor.com released its hottest ZIP codes of 2020 report on Tuesday, which revealed that more towns in the Northeast made the list than last year.

“The hottest zip codes have bucked the national trend of a housing market slowdown during the COVID-19 pandemic,” Danielle Hale, realtor.com’s chief economist said in the report.

“Even during the pandemic, homes in the hottest markets were selling at a blistering pace, with the median days on market in all of the top neighborhoods being under a month,” Hale said. “Likewise, all of the hottest zip codes saw demand increase, with rising views per property on realtor.com compared to last year.”

Although the east coast was hit first and arguably the hardest by COVID-19, seven ZIP Codes from that area made the list – although outside of the bigger cities.

Views per property in the top ZIP codes were up 48% year over year, realtor.com said, making them 2.2 times as high as surrounding metro areas and 4.3 times the national average. Homes in these markets are on the market between seven and 25 days.

Another factor in these areas is affordability. The median listing price in the hottest ZIP codes was $335,000, up 1.8% year over year. Realtor.com noted that these prices were 15% cheaper than their surrounding metros, on average.

realtor.com said that it’s Millennials who would fare better in the hot ZIPs compared to other generations, noting the average Millennial home ownership rate among the top 10 ZIP codes is 53%.

Here are 2020’s hottest ZIP codes:

  1. 80911 – Colorado Springs, Colorado
  2. 43068 – Reynoldsburg, Ohio
  3. 14617 – Rochester, New York
  4. 02176 – Melrose, Massachusetts
  5. 04106 – South Portland, Maine
  6. 66614 – Topeka, Kansas
  7. 03051 – Hudson, New Hampshire
  8. 01602 – Worcester, Massachusetts
  9. 22152 – Springfield, Virginia
  10. 27604 – Raleigh, North Carolina

Leave a comment

Most Popular Articles

Millions will enter housing market in 2021: Zillow

Up to 2.5 million households could enter the housing market in 2021, per Zillow. The buyers will descend on the “secondary cities” across the U.S.

Apr 07, 2021 By

Latest Articles

William Raveis ain’t no stinkin’ iBuyer

Like others, resi brokerage & lender William Raveis is happy to buy your home. But its new program doesn’t mean it’s an iBuyer.

Apr 09, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please