California was home to 13 of the nation’s 20 “hottest” housing markets in January, with San Diego ranking sixth, according to new data from Realtor.com.
In San Diego, the typical home was on the market just 46 days, compared to 89 days nationally. In San Jose, the center of Silicon Valley, the market moved even faster with homes selling in 33 days.
“There is no doubt that housing in many parts of California is as hot as the Mojave in August,” said Javier Vivas, director of economic research at the Realtor.com, which is the official website of the National Association of Realtors.
“Even with sky-high prices, homes in places like the Bay Area typically sell twice as quickly as homes in the rest of the country, thanks to a supercharged economy and a major dearth of available properties,” Vivas said. “Barring a major change in the state’s economic strength, we expect these housing market conditions to continue for the foreseeable future.”
San Francisco, San Jose, and Vallejo were the top three markets on the list. In addition to San Diego, other California markets on the list were Santa Rosa, Sacramento, Stockton, Modesto, Fresno, Los Angeles, Chico, Ventura and Santa Cruz.
Outside the Golden State, Colorado and Texas each had two of the top markets.
CALIFORNIA BOASTS 13 OF 20 ‘HOTTEST’ REAL ESTATE MARKETS IN JANUARY was last modified: January 28th, 2018 by Chris Jennewein