Which are the busiest U.S. housing markets?
According to a new report, the most active metropolitan areas include Chicago, where an inventory logjam appears to be loosening. Also, Colorado Springs, Washington, D.C., and Reno, Nevada, near Tesla’s massive battery factory, which is attracting workers and driving housing demand. Lexington, Kentucky, rounds out the top five.
The least active metros are San Francisco, where the median home value has topped $1 million, and Rochester, New York where a typical home is worth $177,000.
Markets where homes are changing hands are noteworthy at a time when inventory shortages have constrained sales while pushing prices higher and provoking bidding wars for listings that do hit the market.
Limited supply and high prices have damped activity in markets, like San Francisco, that are typically associated with high demand.
The chart comes from Attom Data Solutions’ pre-mover index, which derives from mortgage applications submitted during the second quarter of