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New England displaces South among hottest housing markets

More than half of the hottest Zip codes for home buyers are in New England, according to Realtor.com. (iStock)

Both before and during the pandemic, migration patterns showed a preference for affordability and warmer climates. More people moved to Texas and Florida and to cities in the South such as Atlanta, Charlotte and Nashville than to coastal destinations.

But the 2022 Hottest Zip Codes Report from Realtor.com shows a surprising twist: More than half of the hottest Zip codes for home buyers are in New England.

The annual report compares how fast homes sold in various Zip codes from January through June 2022 and how many people viewed each listing in that Zip code. The study includes only Zip codes with at least 15 active listings each month. In addition, the analysis narrows the field to just the hottest Zip code in a metropolitan area so that the list isn’t dominated by one metro area.

In the top 10 hottest Zip codes on the list, homes sold in an average of eight days and received nearly four times the buyer views than a typical listing throughout the United States. Nine of the top 10 are on the list for the first time in the eight-year history of the study.

Housing supply and demand are beginning to balance

Affordability continues to drive these housing markets, with most buyers searching from areas outside of the Zip code from more expensive markets. But instead of looking to move out of state, most of the buyers are looking for homes in a more affordable location that still offers convenience for an occasional commute to an East Coast city.

The median list price for a home in Boston was $759,000, $895,000 in New York City and $619,000 in Washington, D.C., in June, according to Realtor.com. Buyers from Boston, New York or Washington, D.C., were among the top five sources of buyer demand searching in these top 10 markets, according to Realtor.com.

The 2022 Hottest Zip codes in order, are:

1. 14618 Brighton, N.Y. – Suburban Rochester – median list price in June $275,000

2. 03062 Nashua, N.H. – 47 miles from Boston – median list price in June $536,000

3. 43085 Worthington, Ohio – Suburban Columbus – median list price in June $467,000

4. 03038 Derry, N.H. – 42 miles to Boston – median list price in June $447,000

5. 04062 Windham, Maine – 113 miles to Boston – median list price in June $505,000

6. 18017 Bethlehem, Pa. – 69 miles to Philadelphia – median list price in June $424,000

7. 37604 Johnson City, Tenn. – median list price in June $329,000

8. 03106 Hooksett, N.H. – 59 miles from Boston – median list price in June $482,000

9. 02760 North Attleboro, Mass. – 43 miles to Boston — median list price in June $587,000

10. 04210 Auburn, Maine – 136 miles to Boston - median list price in June $267,000

To see the full report, click here.

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