Lisa Mailhot | April 4, 2024
Buyers
America's real estate landscape has been a roller coaster ride, with some markets defying the odds and maintaining their scorching pace despite unfavorable conditions. However, recent data suggests that even the hottest markets might be cooling off, offering a glimmer of hope for homebuyers who have been priced out.
Realtor.com's report identified the 20 hottest markets, mainly in the Northeast and Midwest. The top 4 spots went to Manchester-Nashua, NH, Rochester, NY, and Worcester, MA.
While hot markets typically see higher price growth due to demand, four cities experienced median price drops year-over-year: Oshkosh-Neenah, WI (-12.3%) to a median of $325,000, Bridgeport-Stamford, CT (-9.8%) to $869,000, Lancaster, PA (-0.5%), and Dayton-Kettering, OH (-0.7%) which falls to $218,000.
This deceleration is partly due to smaller, lower-priced homes hitting the market. However, the price per square foot increased in most hot markets, signaling space tradeoffs for affordability.
Once-popular Southern and Sun Belt metros lost momentum as prices and mortgage rates impacted demand, while the Midwest and Northeast gained traction, pointing to potential rebalancing.
If you're considering moving to Orange County, the shifting trends in America's hottest housing markets present challenges and opportunities. Let's connect and explore how these changes could impact your real estate goals in this dynamic region.
Stay up to date on the latest real estate trends.
Lisa Mailhot | May 1, 2024
Discover how to truly understand and convey your value as a real estate agent. Learn about the importance of self-worth, fee-setting, and mastering commission conversa… Read more
Lisa Mailhot | April 30, 2024
Craving an unforgettable luxury experience? Michelin, the renowned restaurant guide, unveils its prestigious "keys" for exceptional US hotels. Discover the 11 extraord… Read more
Lisa Mailhot | April 29, 2024
Explore the current state of the real estate market with insights into the February 2024 pending home sales data. Learn about the challenges and opportunities in home … Read more
Lisa Mailhot | April 26, 2024
Discover the essential strategies for leading real estate agents with a focus on empowerment over micromanagement. Learn how setting realistic goals and providing supp… Read more
Lisa Mailhot | April 25, 2024
Explore the challenges older homeowners face when downsizing and aging in place, including the lack of suitable housing options and difficulty accessing home equity. D… Read more
Lisa Mailhot | April 24, 2024
Explore creative ways to save for a down payment on your dream home, including side hustles, strategic budgeting, and high-yield savings. Learn how couples are moderni… Read more
Lisa Mailhot | April 23, 2024
Explore the intricacies of California's "builder's remedy" law, which empowers developers to bypass local zoning restrictions in cities without state-approved housing … Read more
Lisa Mailhot | April 22, 2024
Explore the recent clarifications issued by Fannie Mae, Freddie Mac, and HUD on mortgage commission payments and their implications for buyers and sellers. Learn how t… Read more
Lisa Mailhot | April 16, 2024
Discover actionable tips for buyers and sellers amidst concerns about mortgage eligibility in the current real estate market. Gain insights into securing a home loan, … Read more
You’ve got questions and we can’t wait to answer them.