The hottest housing market in the U.S. may surprise you

The hottest housing market in the U.S. may surprise you

The hottest housing market in the U.S. may surprise you
Think the most in demand housing market in the U.S. is in Southern California? Think again. According to a new report from Realtor.com, it is actually Colorado Springs. Realtor.com examined 29,000 zip codes across the U.S. during the first half of 2021 and ranked them by how quickly listed homes went under contract.

“By definition, the zips that make our annual hottest report are very competitive, but this year, they are white-hot,” said Realtor.com chief economist Danielle Hale. “Homes n this year’s zips are under contract in less than a week, which is three times faster than the contract times for last year’s hottest markets.”

Properties in 80916 which covers the southeast part of Colorado spent just four days for sale, compared to nationwide average of 33 days.

Today, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.00 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.