The 15 Hottest Housing Markets in the U.S.

Markets in Colorado and the Carolinas are drawing the most potential home buyers, according to data released recently by ATTOM Data Solutions. The property data company analyzed mortgage applications to create its “Pre-Mover Housing Index,” a measure of the proportion of homes likely to sell in a market. The index is based on the ratio of mortgage applications that include an estimated loan settlement date to the number of homes in a given market. Mortgages that have a so-called “pre-mover” flag, like a settlement date, close within 30 days 62.2% of the time, according to ATTOM’s data.


An index above 100 in a given market means an above-average ratio of homes will be sold there compared with the national average. ATTOM looked at 120 metropolitan areas that had at least 100,000 single-family homes and condos. Those that scored the highest combined affordable homes with access to jobs, said Daren Blomquist, senior vice president of ATTOM.


If you’re looking to buy in one of these markets, competition could be fierce. It may help to get preapproved for a mortgage and to pull your credit to make sure there’s nothing on your report that will bog you down. Take a look at this list of the 15 areas with the highest Pre-Mover Housing Indices.

15. Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin

Pre-Mover Index: 165

Number of homes: 2.9 million

Average property value: $296,727

14. Manchester-Nashua, New Hampshire

Pre-Mover Index: 175

Number of homes: 121,883

Average property value: $361,833

13. Durham-Chapel Hill, North Carolina

Pre-Mover Index: 179

Number of homes: 146,469

Average property value: $279,327

12. Atlanta-Sandy Springs-Roswell, Georgia

Pre-Mover Index: 179

Number of homes: 1,962,184

Average property value: $248,786

11. Las Vegas-Henderson-Paradise, Nevada

Pre-Mover Index: 180

Number of homes: 683,448

Average property value: $249,214

10. Nashville-Davidson-Murfreesboro-Franklin, Tennessee

Pre-Mover Index: 190

Number of homes: 614,297

Average property value: $271,580

9. Lancaster, Pennsylvania

Pre-Mover Index: 191

Number of homes: 147,076

Average property value: $167,674

8. Orlando-Kissimmee-Sanford, Florida

Pre-Mover Index: 194

Number of homes: 738,302

Average property value: $246,020

7. Jacksonville, Florida

Pre-Mover Index: 196

Number of homes: 490,967

Average property value: $198,053

6. Lexington-Fayette, Kentucky

Pre-Mover Index: 208

Number of homes: 115,422

Average property value: $214,785

5. Washington-Arlington-Alexandria, District of Columbia-Virginia-Maryland-West Virginia

Pre-Mover Index: 209

Number of homes: 1,840,922

Average property value: $486,711

4. Tampa-St. Petersburg-Clearwater, Florida

Pre-Mover Index: 209

Number of homes: 1,041,157

Average property value: $229,571

3. Raleigh, North Carolina

Pre-Mover Index: 225

Number of homes: 386,744

Average property value: $235,513

2. Charleston-North Charleston, South Carolina

Pre-Mover Index: 225

Number of homes: 230,381

Average property value: $359,157

1. Colorado Springs, Colorado

Pre-Mover Index: 251

Number of Homes: 218,034

Average Property Value: $263,960

This article originally appeared on Credit.com.
Source: Myles Ma http://www.marketwatch.com

 

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