All housing markets are not created equal. The old saw, “Location! Location! Location!” is no less true just because it’s old.
New data from researchers at Realtor.com has resulted in a list of the top 20 hottest ZIP codes for home buyers and sellers. Homes in these ZIP codes sell in an average of 25 days, nearly two months (53 days) faster than in the rest of the country.
These areas are particularly attractive to millennials who have the ability to purchase a home in expensive housing markets where strong job markets and good salaries are common.
According to Realtor.com’s chief economist, Jonathan Smoke:
Homes for sale in this year’s hottest ZIP codes are selling almost as quickly as they hit the market. While millennials are usually a significant presence in most markets, their sheer size and buying power have made them a force to be reckoned within these hot ZIP codes and given them the power to shift supply and demand dynamics.
In several ZIP codes, millennials account for as much as 1.8 times their presence in the U.S. population as a whole. Overall, they earn more than $100,000 at a rate of 1.8 times more than the U.S. average as well, and by as much as 2.2 times in some areas.
Here is Realtor.com’s list of the top 20 hottest U.S. ZIP codes for 2016.
- Watauga, Texas: 76148
- Pleasant Hill, California: 94523
- Northglenn, Colorado: 80233
- Colorado Springs, Colorado: 80916
- San Antonio, Texas: 78247
- Petaluma, California: 94954
- Melrose, Massachusetts: 02176
- Crestwood, Missouri: 63126
- Milwaukie, Oregon: 97222
- North Park, California: 92104
- Louisville, Kentucky: 40242
- Overland Park, Kansas: 66204
- Berkley, Michigan: 48072
- San Jose, California: 95123
- Nashville, Tennessee: 37214
- Austin, Texas: 78749
- Suisun City, California: 94585
- Rochester, New York: 14625
- Kentwood, Michigan: 49508
- Fargo, North Dakota: 58103
More details are available at the Realtor.com website.
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