Midland, Texas is the hottest housing market in the nation for the second month in a row, according to data from Realtor.com, knocking California heavyweights like Los Angeles and San Francisco from their traditional perches atop the thermometer.
It looks like California finally overheated, registering only four markets in the top 20 as opposed to two months ago when more than half of the list was located in the Golden State.
“The California housing market has been hot for a long time – but maybe too hot. Our May hotness index further confirms we’re seeing that as prices in California continue to soar, people are increasingly looking elsewhere,” Realtor.com Director of Economic Research Javier Vivas said in the report.
“As we continue into what we expect to be the hottest home-buying season in history, look for a wide variety of locales to remain red-hot,” he added.
The report also indicates spillover demand in more affordable metros. Seven Midwest metros made it in the top 20, which is the highest number since Realtor.com started taking temperatures (see full list below).
(Courtesy of Realtor.com)
Realtor.com compiled this list by analyzing housing market supply and demand using listing views as an indicator of demand and median days on market as an indicator of supply.