The Columbus housing market has been named the hottest in the nation by Realtor.com, just as the high-season of home buying begins. And there are no signs of it cooling off anytime soon.
Strong job growth throughout Central Ohio, along with low interest rates, have created an increase in demand, but a short supply of homes on the market is driving up the prices, creating a true sellers market.
The Realtor.com ranking reflects a combination of the number of days on the market and the frequency that listings are viewed, both of which are indicators of buyer demand. And while California holds the biggest number of spots in the Top 20, Ohio not only claimed the top spot, but also had Akron and Canton come in at No. 16 and 19, respectively.
According to realtor.com Chief Economist Danielle Hale, “Columbus is super affordable, with a median $249,900 compared to the national listing price of $300,000, which attracts a lot of younger buyers.” Despite hearing of a possible shift coming, Columbus real estate agents are confident that the market is going to stay hot.