The “hottest” zip codes in the US — where homes are selling the fastest — aren’t in the areas you might expect.
The places to be right now are Melrose, Massachusetts, Worthington, Ohio, and several spots in Texas, according to Relator.com, which recently released a list of the 10 hottest zip codes out there based on listing views on Realtor.com (to assess demand) and median age of inventory (to assess supply).
“Homes in these top ten communities sell four to nine times faster than the national average, and spend 20 fewer days on the market than their respective metropolitan statistical areas,” Realtor.com reports.
These communities have a few characteristics in common that make them so popular: They all boast thriving local economies, offer stable job opportunities, are affordable, and appeal to both millennials looking to start a career and family and older generations looking to grow their wealth and enjoy a varied lifestyle.
This Midwestern city is made up of many smaller, residential neighbourhoods and offers great housing options for first-time home buyers. Fargo also has the second lowest unemployment rate in the US -- 2.8%, according to the Bureau of Labour Statistics -- making it an attractive place to start and grow a career.
Median household income: $US45,500
Median home price: $US190,300
Millennials are heading to Austin (they make up 23% of the population, Realtor.com reports) for its vibrant arts scene and affordably priced homes. It also has a low unemployment rate, 3.3%, and is surrounded by major tech companies including Apple, IBM, and Dell.
Median household income: $US53,900
Median home sale price: $US271,600
Right outside of St. Louis, Crestwood makes the top ten for its affordable homes and access to strong schools in the award-winning Lindbergh School District. Despite the U.S. home ownership rate dropping to 63.4%, the lowest rate since the 1960s, Crestwood boasts one of the highest in the nation at 84%.
Median household income: $US64,900
Median home price (St. Louis metro): $US157,100
San Antonio's population has grown 7% in the past five years, which is double the national average, Realtor.com reports. The job market is also strong, and it hosts many corporate headquarters, including USAA, Valero, and NuStar Energy.
Median household income: $US45,700
Median home price: $US199,400
Novi, about 25 miles north of Detroit, attracts residents for its large healthcare system, strong school district, and thriving local economy. Its unemployment rate is 57% lower than the rest of the metro, according to Realtor.com.
Median household income: $US80,100
Median home price: $US234,300