Hot markets for house-hunting clients

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.

NMN081518-Wilmington-NC
Sunset over Wilmington waterfront in North Carolina, USA.
Wilmington, North Carolina
Pre-Mover Housing Index: 206 (-26%)
Total single-family and condo housing inventory: 100,401
Median home price: $ 259,804 (0%)
NMN081618-colorado-springs
Aerial view to Pioneers museum in Colorado Springs, Colorado
Colorado Springs, Colorado
Pre-Mover Housing Index: 178 (-27%)
Total single-family and condo housing inventory: 224,812
Median home price: $282,370 (3%)
NMN113017-manchester.jpg
Manchester, New Hampshire, USA Skyline on the Merrimack River.
Manchester, New Hampshire
Pre-Mover Housing Index: 172 (12%)
Total single-family and condo housing inventory: 122,265
Median home price: $263,293 (1%)
3-chicago.jpg
Chicago
Pre-Mover Housing Index: 168 (-30%)
Total single-family and condo housing inventory: 2,908,095
Median home price: $253,502 (-21%)
NMN053018-washington.jpeg
Washington, D.C.
Pre-Mover Housing Index: 166 (-23%)
Total single-family and condo housing inventory: 1,857,184
Median home price: $473,957 (4%)
NMN081518-Charleston-SC
Charleston, South Carolina
Pre-Mover Housing Index:137 (-24%)
Total single-family and condo housing inventory: 232,889
Median home price: $322,956 (9%)
Orlando, Fla.
Aerial view of Orlando Florida. Clear view of Valencia College Ln road.
Orlando, Florida
Pre-Mover Housing Index: 136 (-17%)
Total single-family and condo housing inventory: 750,656
Median home price: $258,266 (15%)
13-jacksonville.jpg
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Jacksonville, Florida
Pre-Mover Housing Index: 136 (-27%)
Total single-family and condo housing inventory: 499,446
Median home price: $252,262 (28%)
6-tampa.jpg
Tampa, Florida
Pre-Mover Housing Index: 133 (-32%)
Total single-family and condo housing inventory:1,050,872
Median home price: $264,958 (-14%)
Madison, Wis.
Madison, Wisconsin
Pre-Mover Housing Index: 129 (-14%)
Total single-family and condo housing inventory: 208,359
Median home price: $264,958 (-9%)
NMN012418-lakeland.jpg
Downtown Lakeland, Florida, on Lake Mirror
Lakeland, Florida
Pre-Mover Housing Index: 126 (-22%)
Total single-family and condo housing inventory: 186,856
Median home price: $209,513 (9%)
NMN082018-el-paso-texas
El Paso, Texas
Pre-Mover Housing Index: 126 (-22%)
Total single-family and condo housing inventory: 186,856
Median home price: $209,513 (9%)
This article originally appeared in National Mortgage News.
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