It’s been another whirlwind year for the housing market, with rising interest rates and home prices adding to an already challenging environment for wanna-be homebuyers. And while the number of homes for sale is increasing at a record pace – meaning you may have a better chance at finding a home in 2022 compared to last year – ongoing competition from other home shoppers and a lack of affordability will still be challenges for anyone navigating the real estate market for the remainder of the year.
Realtor.com’s New Hot Market Insights
If you have plans to purchase a home this year and want to better understand if you are shopping in a hot market, Realtor.com® now provides “Hot Market” insights on neighborhoods and home listings that show just how fast-moving and popular they are compared to other areas. This information can help you better understand how much competition you’ll face in the market so you can set yourself up for greater success.
What defines a hot market? Hot Markets are those in which search activity on Realtor.com® is high and time on market is low compared to other markets across the country. These insights are updated monthly, to provide you with a timely view of the competition you are likely to face while shopping for a new place to call home.
How to know if a market is hot
If you are searching for homes in a hot area, you’ll see the “Hot Market” badge right on Neighborhood pages and on individual property listings in the home’s Neighborhood dropdown section.
While you shop, click the badge button to learn more about the local housing market, including how fast homes are selling and how many more views they get compared to others in the area and in the U.S.
Where are buyers feeling the most heat?
According to Realtor.com’s analysis of the hottest ZIP Codes for 2022 released today, eight of the 10 hottest ZIPs on the list are in the northeast, including six in America’s historic New England region. In these wicked-hot ZIPs, homes sold in just over a week (8 days) and received nearly four times more buyer views than a typical U.S. listing, on average. The Midwest and South each also have one zip on the list, while the Western region didn’t make the Top 10, because a lack of affordability pushed buyer interest elsewhere in the country.
Hottest ZIP Codes of 2022*, in rank order, are:
- 14618 Brighton, N.Y.
- 03062 Nashua, N.H.
- 43085 Worthington, Ohio
- 03038 Derry, N.H.
- 04062 Windham, Maine
- 18017 Bethlehem, Penn.
- 37604 Johnson City, Tenn.
- 03106 Hooksett, N.H.
- 02760 North Attleboro, Mass.
- 04210 Auburn, Maine
*Note that the markets where Realtor.com’s Hot Market badge is featured on listings and neighborhoods may vary from the 2022 Hottest ZIP Codes listed above. This is because of a difference in methodologies and time frame – Hot Market badge data is updated monthly while the Hottest ZIPs report looked at data from January to June 2022.
According to Realtor.com’s Chief Economist Danielle Hale, relative home price affordability and convenient travel to big cities are helping drive demand in some of the hottest zip codes. “Our 2022 Hottest ZIPs ranking illustrates how many Americans are redefining their priorities to achieve homeownership while also building their careers, by trading downtown life for relatively affordable areas with reasonable part-time commutes to big cities.”
Even as the housing market cools, home shoppers in the competitive Hottest ZIPs may need to take extra measures to win, says Hale.
“It all starts with understanding the local market. Buyers can use Realtor.com®’s Hot Market Insights to arm themselves with knowledge that will be key to success when deciding where, when and how to make an offer,” she said.
By identifying the hottest markets on Realtor.com®, which are likely to be more competitive than their surrounding areas with fast-selling homes and high buyer demand, we aim to add a new level of insight into your home shopping experience, so you are more empowered and better prepared to find your way home this year.