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

The Hottest Housing Market for February Is …

Phil Hall
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.”
Published
Feb 23, 2017
Bankruptcy Court Judge OKs Financing For FGMC

Financing package will allow FGMC to continue to fund loans in its pipeline.

Industry News
Jul 05, 2022
Opteon Acquires Northeastern Appraisal Associates

This is the fourth acquisition Opteon has made in the last 12 months. 

Industry News
Jul 04, 2022
Lenders Complain FGMC Is 'Radio Silent' On Loans

Company said it would stop purchasing new loans in the wake of its mass layoff last week; seeking court-approved financing.

Industry News
Jun 30, 2022
AnnieMac Home Mortgage Acquires OVM Financial

Wants to expand its outreach into the Mid-Atlantic region.

Industry News
Jun 30, 2022
Ready Life Launches Black-Owned Fintech To Help Underserved Borrowers

Ready Life, led by two Black entrepreneurs, is taking aim at the racial wealth gap by starting a mortgage fintech.

Industry News
Jun 30, 2022
FGMC Files For Chapter 11 Bankruptcy Protection

FGMC notified laid-off 471 employees late Tuesday night that it would pay severance.

Industry News
Jun 30, 2022