Each month, HVF’s Housing Market Report uses a number of leading real estate market-based indicators to report on activity in the single-family home markets in the top 200 metropolitan areas (CBSAs) in the U.S.
This month’s Housing Market Report features a Top Ten list with only one East Coast representative. The Portland-South Portland, ME, metro earned a spot on this month’s list thanks a strong performance in several key market indicators.
According to Pro Teck’s monthly analysis, the Portland metro features a low MRI (2.62 – MRI below 3 months indicates it’s a seller’s market), a low number of Foreclosures as Percentage of Sales (1.63), as well as the lowest Average Sold Price ($265,000) of all the CBSAs in the Top Ten.
The remaining markets on this month’s list of “hottest housing metros” include all West Coast CBSAs — five in California, two in Nevada and one each in Colorado and Washington state.
Interested in learning more about the top metros featured in this month’s market report? Contact Pro Teck for more in-depth information on each CBSA listed in this month’s report.
About Pro Teck’s Monthly Housing Market Report
The Home Value Forecast uses a ranking system that is purely objective and is based on directional trends of nine market indicators. Each indicator is given a score based on whether the trend is positive, negative or neutral for that series. For example, a declining trend in active listings would be positive, as would an increasing trend in average price. A composite score for each CBSA is calculated by summing the directional scores of each of its indicators. From the universe of the top 200 CBSAs, each month we highlight topics and trends in the real estate market.