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Realtor.com pegs Denver as fourth-hottest housing market

The city ranked fourth on the list, after Vallejo, California, San Francisco and Dallas.

Excerpt:

"Spring has arrived early this year, at least in terms of the rapid decline in the age of inventory," Chief Economist Jonathan Smoke of realtor.com said in a statement. "Strong off-season demand powered new seasonal highs in prices and left us with a new low in available homes for sale. Potential sellers take note: This year is shaping up to favor you even more than last year."

Another indication of the continuing strength of buyer demand is that the median list price remains level at $250,000, which is a steep 9 percent higher than one year ago. If this figure holds by the end of the month, it would be a record for February. Buyers are also ramping up their search online: realtor.com saw the highest year-over-year increase in average views per listing since April 2015.

While nearly 425,000 new listings will have entered the market in February, there still aren't enough to meet buyer demand. In fact, the sharp double-digit decline in for-sale housing inventory observed since October is continuing.

Read the rest here.

Read more articles by Eric Peterson.

Eric is a Denver-based tech writer and guidebook wiz. Contact him here.
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