With the housing market facing a severe shortage of inventory nationwide, house hunters are snapping up the relatively few properties that are hitting the market.
Demand was highest in these 12 areas, based on the number of mortgage applications. If you've got clients looking to buy a home, keep these markets in mind. They’re going fast.
A reliable predictor of upcoming home sales is the timing and frequency of mortgage applications in a market. Understanding the pace of this activity is helpful for loan officers, real estate agents, home improvement stores and other aspects of a local economy that benefit from these transactions.
With that in mind, here's a look at this summer's 12 hottest housing markets. The rankings are based on the Attom Data Solutions Pre-Mover Housing Index, which analyzes the volume of loan applications in a market to identify how many residential properties are about to be sold.
A value of 100 reflects the national average, with a reading over 100 indicating above-average mortgage application activity in that market. Percent differences reflect year-over-year changes.
