Tag Archives: hot markets

Both home sellers and homebuyers continue to struggle to navigate the market, with a new seller survey from Realtor.com revealing that home prices are up 7.8% from last year.

Many factors, including rising home prices, are reducing homebuyer demand in these 16 regions in the Golden State.

Redfin measured housing markets' hotness based on the percentage of homes most likely to go under contract within 14 days. In the top three markets, more than 60 percent of homes met this criteria.

“The price appreciation we’ve witnessed over recent months seems to be working to encourage more sellers to put their homes on the market,” said Jonathan Smoke, realtor.com chief economist. “A higher level of inventory along with growing demand should result in more contracts for both existing and new homes in February, leading to more closings in March.”