Manchester NH continued to hold the top spot on’s hottest housing markets list in May.

May 2022 – Top 20 Hottest Housing Markets

Metro             Rank               Med. DOM             Med. Listing Price

Manchester NH  1                          9                         $444,900

Burlington VT     2                         11                       $439,250

Portland ME       3                          15                       $538,500

Concord NH       4                          17                       $449,950

La Crosse WI      5                          15                       $344,450

Burlington NC    6                           13                       $369,450

Rochester NY     7                          10                       $224,950

Elkhart-Goshen IN 8                       18                       $259,900

Lafayette IN       9                         17                       $297,450

Fort Wayne IN    10                       17                       $279,950

Columbus OH     11                       14                       $340,000

Springfield MA   12                        17                       $352,500

Worcester MA   13                         15                       $469,900

Hartford CT        14                       21                       $362,750

Billings MT         15                       20                       $549,500

Norwich CT        16                       22                       $404,500

Kingsport TN      17                       25                       $299,000

New Haven CT   18                        21                       $357,450

Claremont NH    19                        25                       $397,000

Oshkosh WI        20                       25                       $302,400

Affordability = Key Factor in Hottest Housing Markets

Buyer attention has most definitely shifted towards affordability as fast-climbing mortgage interest rates and scant inventory have made it more challenging than ever for many buyers to find a suitable place to live within their price range.

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After dominating’s hottest markets list in January, you’ll notice that not one California metro is even ranked on this May list.  Why?  Affordability is the key driving force for today’s buyers.

Overall, sixteen of the twenty hottest markets in May had median listing prices -16.3% lower than the national median of $447,000 (+17.6% y/y) with an average listing price of $374,000.

Midwest markets were all priced more than $100,000 below the national median.  Three of the four least expensive hottest markets in May (Elkhart, Fort Wayne and Lafayette) were in Indiana.

Connecticut also came through with affordability as New Haven, Hartford and Norwich all had median prices below the national median.

Hottest Markets Where Homes Sell Fastest & High Number of Viewers designs its Hottest Housing Market rankings to “reward” the places where homes sell the fastest and have the most views.  Overall, these top twenty metros received 1.5 to 3.2 times the number of viewers per home for sale compared to the national rate.

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