Key Highlights
- Affordability is at the top everyone’s list this spring
- Smaller markets getting most clicks on their listings and the fastest sales (fewest days on the market)
- February 2020 saw lowest fixed-rate mortgages for any February EVER
Colorado Springs jumped into first place as the hottest housing market in the country this February from a strong second place last year. Once considered to be Denver’s spillover market, the Springs is now seen as a stand-alone market distinguished by its gorgeous location and weather and its mushrooming tech opportunities.
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Take a look at realtor.com’s Hottest Markets List for February 2020:
- Colorado Springs CO
- Lafayette IN
- Modesto CA
- Rochester NY
- Sacramento CA
- Vallejo-Fairfield CA
- Yuba City CA
- San Francisco CA
- Fresno CA
- Stockton-Loki CA
- Spokane WA
- San Jose CA
- Boston MA
- Columbus OH
- Dayton OH
- Fort Wayne IN
- Bakersfield CA
- Pueblo CO
- Canton OH
- Visalia-Porterville CA
Lower than ever 30-year fixed mortgage rates and warmer than normal weather kick-started the spring home buying season in February this year. Even if one were to go back to the 1960’s and 1970’s, Javier Vivas, the director of economic research with realtor.com, said, that this February 2020 “…the 30-year fixed rate mortgage (was) at the lowest point ever.”
Vivas also pointed out that the number of new construction permits issued this February was double the number of permits issued last year during Valentine’s month.
Some comparisons in realtor.com’s hottest housing market lists of February 2020 and February 2019 are worth noting. Fort Wayne IN fell from its seven-month streak as being number one on this list down to number 16. Lafayette IN jumped up from #18 last February to being #2 this year and Modesto jumped from its February 2019 #16 ranking to a third place finisher this year.
Other comparative springboard markets in realtor.com’s hottest lists from February 2019 to February 2020 included Vallejo-Fairfield from #12 to #6, Fresno from #19 to #9 this year, San Jose from #34 to a surprising #12 and Dayton OH from #36 last year to #15 this February 2020.
Thanks to realtor.com’s managing editor Cicely Wedgeworth for source data.
Also read: States & Cities with Worst Homeless Rates, Global Growth Forecasts Slashed as Spreading Coronavirus Spreads Global Recession Fears, Real Estate Stocks Slammed by Coronavirus Stock Market Fears
