So Hot Right Now
What makes Austin one of the hottest real estate markets in the U.S. right now?
This time of year — after school lets out but before summer's oppressive heat takes over — is what a lot of folks consider to be the best time to buy a house. Realtor.com agrees, and according to its May trend report, Austin-Round Rock is the 16th hottest residential market in the country.
This "real estate hotness index" is composed of two indicators: the number of views per listing on Realtor.com and the median age of inventory in each market.
Where views are concerned, listings in the Austin metro area are viewed 70 percent more than the U.S. average and 14 percent more than the Texas average. Austin also ranks No. 27 on the fast-moving supply list. Homes here are only on the market an estimated 42 days, which is 24 days lower than the U.S. average of 66 days and 17 days lower than the Texas average.
Another achievement is that Texas is one of only three states to get two cities in the top 20; Dallas-Fort Worth-Arlington ranks No. 4. Colorado triumphs with No. 1 Denver and No. 13 Boulder, and Michigan shows strong with No. 9 Ann Arbor and No. 10 Detroit.
The cities' economic gains are noted, but Texas' ability to succeed in the face of declining oil demand is praised.
Here is the complete list of Realtor.com's 20 hottest markets right now:
1. Denver-Aurora-Lakewood, Colorado
2. San Francisco-Oakland-Hayward, California
3. San Jose-Sunnyvale-Santa Clara, California
4. Dallas-Fort Worth-Arlington, Texas
5. Vallejo-Fairfield, California
6. Boston-Cambridge-Newton, Massachusetts
7. Santa Cruz-Watsonville, California
8. Santa Rosa, California
9. Ann Arbor, Michigan
10. Detroit-Warren-Dearborn, Michigan
11. San Diego-Carlsbad, California
12. Sacramento-Roseville-Arden-Arcade, California
13. Boulder, Colorado
14. Fargo, North Dakota
15. Los Angeles-Long Beach-Anaheim, California
16. Austin-Round Rock, Texas
17. Oxnard-Thousand Oaks-Ventura, California
18. Manchester-Nashua, New Hampshire
19. Columbus, Ohio
20. Stockton-Lodi, California