Californian cities no longer dominate realtor.com®’s top-performing housing markets list as they have for the past six years. Instead, higher home prices may be prompting more home buyers to look elsewhere.
Overall, home prices nationwide continued to escalate in June, with the median listing price nationwide at $299,000, a 9 percent year-over-year increase, according to realtor.com®. The higher home prices are prompting more buyers to face affordability issues, says Javier Vivas, director of economic research at realtor.com®.
"We're seeing interest and money shift away from the overheated markets into less expensive secondary markets," he says.
The top metro in realtor.com®’s hottest housing market list for June was Midland, Texas. Realtor.com® researchers rank cities each month based on which metros are garnering the most visitors online at listings and where homes are selling the fastest.
