When discussing the “hottest” home markets in the United States, one city must be mentioned, the beautiful San Diego. According to Realtor.com, when it comes to supply and demand, San Diego made the list as the eighth “hottest” home market in the last six months. This signified the highest ranking the majestic San Diego has attained since Realtor.com was launched in 2013. There are multiple factors that could have led to San Diego’s addition to the list. Factors that positively affect a cities ranking include, but are certainly not limited to, burgeoning job markets and low interest rates on housing.
One may ask; how does Realtor.com make the decision of how to rank the many appealing cities that comprise the U.S.? The site selects the “hottest” markets by tracking how long listings stay online, and the number of page views per listing on its site. When consumers hear the catchphrase “hottest” home markets, it simply goes back to the idea of supply and demand. Where is it in the country that people are clamoring to move, and houses are snatched up as quickly as they appear on the market?
Though a city earning a spot on the ten “hottest” home markets list has appeal in and of itself; buyers beware, this may mean that the average cost of homes will be higher than the national average. Affordability is not a factor that is taken under consideration when developing the “hottest” home markets list. For more information on this topic please reference The San Diego Union Tribune’s article, “Study: San Diego is 8th hottest city for real estate” http://www.sandiegouniontribune.com/business/real-estate/sdut-eight-hottest-market-realtor-2016may27-htmlstory.html.