The Hottest Housing Market for February Is … – NMP Skip to main content

The Hottest Housing Market for February Is …

Feb 23, 2017
California’s housing market set a new record for its median home price in May with $600,860, breaking an 11-year-old record peak price of $594,530, according to the California Association of Realtors (CAR)

From the some-things-never-change department: California continued to dominate the new Realtor.com’s Hottest Housing Markets list, with 12 markets occupying slots on the February Top 20 list.
Vallejo, Calif., took the number one spot for the first time since August, displacing San Francisco which dropped into second place. San Jose, which held second place on last month’s list, fell to fifth place, while San Diego dropped from last month’s fifth place to this month’s sixth place.
 
On a national level, Realtor.com determined that nearly 425,000 new listings will have entered the market in February, but that will not help alleviate inventory shortages. And complicating matters for many potential homeowners is property appreciation: the median list price of $250,000 is nine percent higher than one year ago.
 
“Spring has arrived early this year, at least in terms of the rapid decline in the age of inventory,” Chief Economist Jonathan Smoke of realtor.com said in a statement. “Strong off-season demand powered new seasonal highs in prices and left us with a new low in available homes for sale. Potential sellers take note: This year is shaping up to favor you even more than last year.”
About the author
Published
Feb 23, 2017
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026