Realtor.com® now provides
"Hot Market Insights" on listings in areas with fast-selling
homes and high buyer demand
SANTA
CLARA, Calif., Aug. 16,
2022 /PRNewswire/ -- One of America's most historic
regions is its newest homebuying hotspot, with New England ZIPs
representing over half of 2022's top 10 list in the eighth annual
Realtor.com® Hottest ZIP Codes Report released today. In
these ZIPs, homes sold in just over a week (8 days) and received
nearly four times (3.7) more buyer views than a typical U.S.
listing1. To help buyers better understand if
they're shopping in a hot market, Realtor.com® now
provides "Hot Market Insights" on listings that show how fast homes
in that neighborhood are selling and how popular they are compared
to other properties in the area and across the country.
A key theme of this year's wicked-hot ranking is demand from
out-of-ZIP home shoppers, driven by factors including relative
affordability and convenient travel to big East Coast cities. The
2022 Hottest ZIP Codes in America, in rank order, are:
- 14618 Brighton, N.Y.
- 03062 Nashua, N.H.
- 43085 Worthington, Ohio
- 03038 Derry, N.H.
- 04062 Windham, Maine
- 18017 Bethlehem, Penn.
- 37604 Johnson City, Tenn.
- 03106 Hooksett, N.H.
- 02760 North Attleboro,
Mass.
- 04210 Auburn, Maine
"With rising inflation and mortgage rates squeezing monthly
housing budgets, this year's determined buyers are breathing new
life into competition for homes in historic areas like New England.
Our 2022 Hottest ZIPs ranking illustrates how many Americans are
redefining their priorities to achieve homeownership while building
their careers, by trading downtown life for relatively affordable
areas with reasonable part-time commutes to big cities," said
Danielle Hale, Chief Economist for
Realtor.com®. "Even as the housing market resets, home
shoppers in the competitive Hottest ZIPs may need to take extra
measures to win. It all starts with understanding the local market,
and buyers can use Realtor.com®'s Hot Market Insights to
arm themselves with knowledge that will be key to success when
deciding where, when and how to make an offer."
With the launch of Realtor.com®'s "Hot Market
Insights" announced today, the "neighborhood" section of property
listings on Realtor.com® will now show homebuyers if
they are shopping in a hot market. Home shoppers can click the
button to learn more about the local housing market, including how
fast homes are selling and how many more views they get compared to
others in the area and in the U.S. These insights are updated each
month, to provide buyers with a timely view of the competition
they're likely to face.
Key trends driving homebuying
demand in the 2022 Hottest ZIPs
Many Americans are feeling the strain on their finances due to
the whirlwind of economic shifts that have occurred so far in
2022, including mortgage rate hikes. Combined with record-high home
prices, rising affordability challenges are forcing many buyers to
get creative if they want to beat the competition without breaking
their budgets.
Home shoppers are doing just that in the 2022 Hottest ZIP Codes,
with nine of the top 10 making the list for the first time in the
ranking's eight-year history, including eight northeastern ZIPs
making their debut. Six of these newcomers are located in New
England, offering buyers a balance of new opportunities with
historic charm. On average across the top 10, 13.4% of homes were
built before 1939, compared to just 11.6% nationwide.
New England is a hot new
homebuying destination for big city transplants
Many of the top 10's new entries are attracting home shoppers
looking to relocate from high-priced big cities on the East
Coast, based on migration patterns among prospective buyers viewing
Realtor.com® listings. In the first half of the year, at
least one big East Coast city – Boston, New
York and D.C. – was among the top five sources of buyers
viewing listings in all 10 of the hottest ZIPs.
Buyers in these major metros are exploring ZIPs further away
than in prior years, enabled by more widespread adoption of remote
work. Even for those with hybrid schedules, many of this year's
hottest ZIPs provide the perfect combination of relative housing
affordability and a reasonable part-time commute to big city
business hubs. From all six New England ZIPs on the list,
Boston can be reached in 2.5 hours
or less.
ZIP Spotlight – No. 2 03681 Nashua,
N.H.: At No. 2 on the 2022 list, Nashua is located just 42 miles from
Boston, or within a 1.5 hour
commute. In the first six months of 2022, listings in the ZIP
attracted more viewers from Boston
(38%) than from local buyers (32%). The influx of demand is fueling
competition for homes in Nashua,
where listings received 4.6 times more views and sold 23 days
faster than the typical U.S. home (7 vs. 40 days) in the first half
of this year. As a result, the ZIP's supply of active listings was
down 26.9% year-over-year by June.
Affordability challenges drive
demand in relatively small ZIPs offering high-value homes
As a result of rising inflation and higher costs for housing and
everyday expenses, homebuyers have set their sights on areas that
offer good bang for their buck, making value a key theme among this
year's hottest ZIPs. Controlling for home size, the average price
per square foot in the top 10 was 8.7% lower than in their
surrounding metro areas in June.
Among the ZIPs on this year's list, the average asking price
($432,000) was 4.0% lower than the
U.S. median listing price in June ($450,000). At the same time, driven by the rise
in demand, home prices across the hottest ZIPs grew at a faster
year-over-year pace (+18.6%) than listing prices nationwide
(16.9%).
ZIP Spotlight – No. 8 03106 Hooksett,
N.H.: Coming in at No. 8 on this year's list is
Hooksett, N.H., located just 59
miles away from Boston. While
Hooksett's median listing price
($482,000) was higher than the U.S.
median as of June, it is considerably more affordable than in the
Boston metro area ($759,000). Additionally, Hooksett homes tend to have more square
footage (2,008, on average) than the typical U.S. listing (1,887).
These price trends are likely attracting East Coast urbanites
looking for value, with 26.5% of Hooksett's listings viewers coming from
Boston in the first half of
2022.
Aspiring millennial homeowners are
financially prepared for success in the hottest ZIPs
Now aged between 25 and 44 years-old, millennials are a key
cohort of aspiring homeowners, whether first-time or repeat buyers.
This generation is ready and willing to pursue homebuying
opportunities in the hottest ZIPs, where they have the advantage of
strong financial qualifications. Millennials are entering the top
10 with incomes that are higher than the national averages among
those aged 25-34 ($83,782 vs.
$70,510) and aged 34-45 ($100,966 vs. $89,365). On average, buyers in the hottest ZIPs
are well-qualified with higher credit scores (742 vs. 728) and
larger down payments (15.0% vs. 14.2%) compared to the typical U.S.
home shopper.
Millennials' strong financial footing is paying off when it
comes to achieving homeownership in the top 10. In fact, a higher
share of millennials have successfully become homeowners in these
ZIPs (57.1%), on average, than in the U.S. overall (51.3%).
ZIP Spotlight – No. 1 14618 Brighton, N.Y.: Topping this
year's ranking with its debut is ZIP 14618 located in the
Rochester metro area., which has
now been represented on the list by other ZIPs for three years in a
row. The rising popularity of Rochester ZIPs like 14618 may be
partly due to buyers' success in the area. Compared to the U.S.
averages, ZIP 14618's homeownership rates are higher among
millennials (56.9% vs. 51.3%) and overall (70.8% vs. 65.2%). Local
buyers also have strong qualifications, with a typical down payment
of 15.7% and credit score of 745, as well as a higher median income
than the U.S. average ($106,150 vs.
$72,465).
2022 Hottest ZIP Codes in America
– Top 50 Housing Metrics
Rank
|
ZIP
Code
|
ZIP
Name
|
Viewers per
Property
vs. U.S. (Jan.-June
2022 avg.)
|
Median Days on
Market (Jan.-June
2022 avg.)
|
Median
Listing Price
(June 2022)
|
1
|
14618
|
Brighton,
N.Y.
|
4.2
|
6
|
$275,000
|
2
|
03062
|
Nashua, N.H.
|
4.6
|
7
|
$536,000
|
3
|
43085
|
Worthington,
Ohio
|
3.9
|
7
|
$467,000
|
4
|
03038
|
Derry, N.H.
|
3.6
|
7
|
$447,000
|
5
|
04062
|
Windham,
Maine
|
4.2
|
10
|
$505,000
|
6
|
18017
|
Bethlehem,
Penn.
|
3.7
|
8
|
$424,000
|
7
|
37604
|
Johnson City,
Tenn.
|
3.7
|
10
|
$329,000
|
8
|
03106
|
Hooksett,
N.H.
|
3.3
|
10
|
$482,000
|
9
|
02760
|
North Attleboro,
Mass.
|
2.7
|
5
|
$587,000
|
10
|
04210
|
Auburn,
Maine
|
3.4
|
12
|
$267,000
|
11
|
27511
|
Cary, N.C.
|
2.7
|
8
|
$442,000
|
12
|
46814
|
Fort Wayne,
Ind.
|
3.1
|
11
|
$525,000
|
13
|
40223
|
Louisville,
Ky.
|
3.1
|
12
|
$395,000
|
14
|
48375
|
Novi, Mich.
|
2.8
|
7
|
$440,000
|
15
|
06107
|
West Hartford,
Conn.
|
3.1
|
10
|
$412,000
|
16
|
29212
|
Columbia,
S.C.
|
3.4
|
13
|
$280,000
|
17
|
10757
|
Milford,
Mass.
|
2.6
|
8
|
$462,000
|
18
|
05403
|
South Burlington,
Vt.
|
2.5
|
8
|
$502,000
|
19
|
01028
|
East Longmeadow,
Mass.
|
2.7
|
11
|
$395,000
|
20
|
66604
|
Topeka, Kan.
|
2.9
|
13
|
$143,000
|
21
|
03743
|
Claremont,
N.H.
|
2.7
|
13
|
$230,000
|
22
|
54914
|
Appleton,
Wis.
|
3.4
|
16
|
$245,000
|
23
|
45459
|
Dayton, Ohio
|
3.1
|
13
|
$372,000
|
24
|
02631
|
Brewster,
Mass.
|
2.8
|
11
|
$668,000
|
25
|
45068
|
Waynesville,
Ohio
|
2.8
|
14
|
$320,000
|
26
|
08090
|
Wenonah,
N.J.
|
3.8
|
18
|
$285,000
|
27
|
29414
|
Charleston,
S.C.
|
2.7
|
14
|
$504,000
|
28
|
95501
|
Eureka,
Calif.
|
2.7
|
12
|
$484,000
|
29
|
37214
|
Nashville,
Tenn.
|
2.3
|
8
|
$406,000
|
30
|
27712
|
Durham, N.C.
|
2.3
|
13
|
$470,000
|
31
|
65109
|
Jefferson City,
Mo.
|
2.3
|
11
|
$247,000
|
32
|
04901
|
Waterville,
Maine
|
2.4
|
13
|
$239,000
|
33
|
28277
|
Charlotte,
N.C.
|
2.6
|
14
|
$560,000
|
34
|
18707
|
Mountain Top,
Penn.
|
4.2
|
18
|
$275,000
|
35
|
32514
|
Pensacola,
Fla.
|
2.5
|
17
|
$315,000
|
36
|
44281
|
Wadsworth,
Ohio
|
3.0
|
18
|
$354,000
|
37
|
43050
|
Mount Vernon,
Ohio
|
2.5
|
17
|
$230,000
|
38
|
80920
|
Colorado Springs,
Co.
|
2.4
|
11
|
$570,000
|
39
|
03431
|
Keene, N.H.
|
3.7
|
19
|
$250,000
|
40
|
06492
|
Wallingford,
Conn.
|
2.4
|
18
|
$358,000
|
41
|
46526
|
Goshen, Ind.
|
2.2
|
14
|
$250,000
|
42
|
23227
|
Richmond,
Va.
|
2.7
|
19
|
$368,000
|
43
|
27217
|
Burlington,
N.C.
|
2.5
|
19
|
$225,000
|
44
|
75060
|
Irving,
Texas
|
2.5
|
18
|
$339,000
|
45
|
14223
|
Buffalo,
N.Y.
|
2.0
|
12
|
$220,000
|
46
|
06385
|
Waterford,
Conn.
|
2.2
|
14
|
$370,000
|
47
|
37664
|
Kingsport,
Tenn.
|
3.0
|
24
|
$265,000
|
48
|
33626
|
Tampa, Fla.
|
3.3
|
19
|
$598,000
|
49
|
35810
|
Huntsville,
Ala.
|
2.3
|
15
|
$171,000
|
50
|
79934
|
El Paso,
Tex.
|
2.0
|
9
|
$222,000
|
|
Methodology
Realtor.com® analyzed listings data on over 29,000
ZIP codes to determine its Hottest ZIP Code rankings, which are
based on January-June 2022 averages
of: 1) demand, as measured by unique viewers per property on
Realtor.com®; 2) the pace of the market as measured by
the number of days a listing remains active on
Realtor.com®; limited to one ZIP Code per metropolitan
area and ZIP Codes with at least 15 active listings each month.
Time frames for metrics not factored into the ranking as noted,
e.g. listing price trends based on June
2022 data.
Note: The markets where Realtor.com®'s "Hot Market
Insights" are featured on listings and neighborhoods on its website
may vary from the 2022 Hottest ZIP Codes, due to methodology
differences such as time frames (monthly data updated each month
vs. Jan.-June 2022 data).
About
Realtor.com®
Realtor.com® makes buying, selling, renting and
living in homes easier and more rewarding for everyone.
Realtor.com® pioneered the world of digital real estate
more than 25 years ago, and today through its website and mobile
apps offers a marketplace where people can learn about their
options, trust in the transparency of information provided to them,
and get services and resources that are personalized to their
needs. Using proprietary data science and machine learning
technology, Realtor.com® pairs buyers and sellers with
local agents in their market, helping take the guesswork out of
buying and selling a home. For professionals,
Realtor.com® is a trusted provider of consumer
connections and branding solutions that help them succeed in
today's on-demand world. Realtor.com® is operated by
News Corp (Nasdaq: NWS) (Nasdaq: NWSA) (ASX: NWS) (ASX:
NWSLV) subsidiary Move, Inc. For more information, visit
Realtor.com®.
Media Contact
rachel.conner@move.com
1 In the first half of 2022
(Jan.-June), on average. See methodology below for additional
details.
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