Northeastern Markets Are Red-Hot During Spring Buying Season

The spring housing market is sluggish nationally, but in April’s hottest homebuying destinations, buyers are snatching up for-sale homes at a lightning pace. Nabbing the top spot for the second time in the data’s history was Concord, N.H., where homes received 3.8 times more views than a typical listing nationwide and remained on the market for just 17 days before selling, a full month less than the 49 days the typical home in the U.S. spent on the market in April.

Many of the hottest housing markets in April were located in small metros and suburbs in the Northeast. Rather than paying nearly $1 million for a house in pricey metros such as Boston, spring buyers flocked to nearby markets like Manchester, N.H., where the median home price is a more affordable $533,000, Realtor.com reports.

Rounding out the top five hottest markets are a cluster of fellow Northeastern towns, including Hartford, CT; Rochester, NY; and Springfield, MA. (Metros include the main city and surrounding towns, suburbs, and smaller urban areas.)

In fact, adds [Hannah] Jones, “nine of the 12 Northeast markets on this month’s list are clustered together, generally surrounding the Boston area. Both Massachusetts and the larger New England area boast strong employment data, outpacing the U.S. in employment growth over the last year. High housing demand and tight inventory keep upward pressure on prices and, as a result, buyers are looking farther afield for affordability in the region.”

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