The May 2025 Hottest Housing Markets report reveals that high demand coupled with limited housing supply drove notable price increases, particularly in New England. Springfield, MA, was ranked first, maintaining its spot for the fourth consecutive time. Noteworthy increases were seen in places like Monroe, MI, and Amherst Town-Northampton, MA, where median list prices rose significantly. Competition among buyers intensified, with homes in these markets receiving 3.1 times more views than average, selling 28 days faster than typical. The Midwest is noted for affordability, while Northeast markets appeal to buyers near major cities.
High demand relative to the number of homes for sale made many of these markets highly competitive and drove prices higher, leading to significant price increases.
Homes are appreciating at a faster rate in the country's hottest markets, but a higher concentration of smaller homes compared to this time last year is limiting the median listing price growth.
Price growth is the result of fierce buyer competition, as homes in the hottest markets attracted 3.1 times the listing views compared to the typical U.S. home.
The Midwest remains popular for its affordability, while the Northeast markets attract buyers seeking more value near large metro areas.
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