San Diego ranked as the fifth “hottest” real estate marketing in January, with a typical home on the market just 53 days.
Realtor.com, the official website of the National Association of Realtors, released the rankings Friday based on the number of online views per listing.
January is traditionally the slowest time of the year for real estate, but Realtor.com said 2017 is off to the quickest start on record, with homes nationally selling four days faster than last year.
The San Francisco metro area was the nation’s hottest market, followed by San Jose/Silicon Valley, Vallejo-Fairfield in northern California, Dallas-Ft. Worth and then San Diego.
“Since the election demand seems to have intensified — potentially as a reaction to mortgage rates rapidly moving higher,” said Jonathan Smoke, chief economist for Realtor.com. “The threat of rates approaching multi-year highs in the months ahead is creating a sense of urgency.”
The growing demand is coming despite record-low levels of for-sale housing inventory, which is driving up prices, according to Realtor.com.
