Tag Archives: hottest markets

Rental market competition was moderate this summer compared to last year, according to a new RentCafe study, with Miami named the most competitive rental market during peak moving season, while two other Florida markets also topped the top 10 list.

As renters continue to outpace homebuyers across the U.S., Miami is reemerging as the nation’s most competitive rental market. But pent-up demand remains an issue, driving the occupancy rate up to an estimated 97.1%, according to a new report from RentCafe.

"This year's hottest markets will feel much chillier than they did a year ago," said Anushna Prakash, Economic Data Analyst at Zillow.

The majority of the fastest moving market areas can be found in California. The number one hottest market for both March and February was Vallejo-Fairfield, California; followed by San Francisco-Oakland-Hayward, California. The median age of inventory for these two areas were 33 days and 26 days, respectively, well below the nationwide median. Areas in California make up nine of the Realtor.com’s top 20 hottest markets. Javier Vivas, Manager of Economic Research at Realtor.com, noted the large drops om days on the market, and its indication of a strong spring buying season.

California, Texas, and Colorado are luring millennial buyers, who seek areas with solid job growth and affordable (for the area) housing markets, according to a new report by Realtor.com.