"Many are located near larger metropolitan areas, offering employment opportunities without the higher housing costs of major cities. Zillow data shows that these markets attracted significant interest from out-of-area shoppers. In many of them, homes went under contract in days rather than weeks indicating competitive conditions. Over the past few years, stretched affordability has defined the housing market, and this year's list shows just how strongly it's shaping where Americans choose to shop, Zillow senior economist Orphe Divounguy said in a statement."
"These cities offer the mix buyers are looking for: attainable home prices, expanding job hubs, and lively neighborhoods with parks, shops and community spaces. With high costs and limited inventory persisting in major coastal metros, these markets stand out as compelling alternatives places where affordability brought shoppers in, and lifestyle convinced them to stay. Zillow based its rankings on measures of consumer demand, including page-view activity, home-price trends and the speed at which homes sell."
Many smaller cities located near larger metropolitan areas attracted out-of-area buyers by offering employment opportunities without the higher housing costs of major cities. Page-view activity, home-price trends and the speed at which homes sell drove rankings of the most-shopped markets. Rockford ranked No. 1 after drawing more than 60% of page views from outside the local area, with homes typically going under contract in about five days. Berkeley ranked No. 2, followed by Albany, Dearborn, Toledo, Carmel, South Bend, Abilene, Springfield and Allentown. Toledo ranked highest among large cities, with a typical home value around $126,000. Kailua topped coastal cities; Lake Forest led small towns.
Read at www.housingwire.com
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