Go Midwest, young men and women—if you want to buy a house, that is. That seems to be the message being received loud and clear by hordes of American house hunters this summer. Realtor.com® data in July showed that buyer interest is shifting away from pricey California to more affordable markets in the rest of the country, particularly the Midwest.
The realtor.com monthly hotness analysis looks at which markets are getting the most listing views, and where homes are flying off the market fastest. Nearly one-third of the hottest markets in July were in the Midwest, which had a combined median list price of $236,000, well below the national average of $299,000.
“With the median home list price hovering at a record level, affordable markets are very attractive for buyers, which is contributing to the popularity of many Midwestern markets,” said Danielle Hale, chief economist of realtor.com. “Although construction is increasing in many regions, inventory remains scarce due to strong buyer demand and years of underbuilding.”
Continue reading full article on Realtor.com.