The Northeast and Midwest will likely be hot with homebuyers this summer. Homes are flying off the shelves in these 8 cities.
In those regions, homes in some smaller cities with a small town feel and easy access to outdoor activities were flying off the proverbial shelves in May, giving sellers the upper hand,That's despite the fact that — overall — the US housing market has been in a slump. The mix of high home prices and interest rates in much of the country has resulted in tepid demand in many areas, denting property values or slowing their rise.
Most of the cities that made the cut had a population of under 210,000 people, and many of them — like Portland, Maine; and Milwaukee, Wisconsin — are known for cozy neighborhoods. Each of these cities is also known for its outdoor recreational community and is in close proximity to an ocean, lake, or nature sanctuary.
To compile the list, Realtor.com considered the total number of days the typical home in the 50 cities was on the market. It also considered the percentage of listings that saw the asking price dip from the time the house was listed to the time it was sold. The only two cities that were not in the Northeast or Midwest on this list were San Jose, California, and Virginia Beach, Virginia.
Insider omitted some geographical outliers and highlighted 8 Northeastern and Midwestern cities. Without further ado, here are those places that seem extraordinarily popular with homebuyers right now, with notes on population, median home prices, and how long a typical home spent on the market last month, per Realtor.com. Insider also included the percentage of homes whose asking prices were cut.: 266,301Lake Erie and the Maumee River enable canoeing, fishing, and kayaking.
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