Vallejo ranks first in nation’s hottest housing markets
Source: Mercury News
The Vallejo-Fairfield market in Solano County is the No. 1 “hottest” in the nation. Vallejo, a city whose
reputation has been tarnished through the years by news reports about
crime and gangs, has established
itself as a hot housing destination, according to the June index from realtor.com.
Making sense of the story:
♦ Last month’s sale price for a single-family home in Vallejo was $365,000 and properties are
moving quickly.
♦ The monthly index measures where houses are selling the fastest — they’re typically gone within 31 days in Vallejo-Fairfield — as well as which markets are generating the most listing views on realtor.com.
♦ Beyond that, the index has become a reflection of the Bay Area’s housing crisis, which is pushing commuters to purchase homes at relatively affordable prices in out-of-the-way places.
♦ The San Francisco-Oakland-Hayward metropolitan area is the No. 2 “hottest” in the country, and San Jose-Sunnyvale-
Santa Clara is No. 9 on the list.
♦ The index ranks the Stockton-Lodi area as the 14th hottest market in the U.S.
♦ The Sacramento-Roseville-Arden-Arcade metro area (No. 4) and Santa Rosa (No. 17). Yuba City – in Sutter County, about 40 miles north of Sacramento — is the nation’s 19th hottest market, and Modesto is No. 20.
♦ Realtor.com reports that “there were 11 percent fewer homes on the market (nationally) in June 2017 than during the same time last year, marking 24 consecutive months of year-over-year inventory declines
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