America’s Hottest Housing Market Has Ranked No. 1 a Record 29 Times

America’s housing market has been sluggish due to high interest rates—but two regions are bucking that trend.

The Northeast and Midwest are the only two regions represented in the top 20 of the Realtor.com Hottest Housing Markets list for the 11th month in a row.

Both areas continue to command homebuyers’ attention, as demand in the top 20—measured by views per property—was 2.5 times the national level in August. They also saw prices climb 3.3% year over year, even though home prices dropped nationally by 1.3%.

“The Midwest and Northeast metros have dominated the list since February 2022,” notes Realtor.com® senior economic research analyst Hannah Jones in her report.

America’s hottest market is a mainstay on the list

Manchester, NH, ranked as the country’s hottest housing market in August. This is the 29th time in the data’s history that the metro has nabbed the top spot on the list, and it’s been among the top three markets each month for more than three years.

The median home price in Manchester is $550,000—and it’s just 55 miles from Boston, where the median price is $834,500.

Manchester’s listings received 3.3 times more views in August than the national average.

“High demand is met with low inventory as buyers claim available homes,” says Jones. “This dynamic has kept time on market quick and competition fierce.”

As a bonus for buyers, New Hampshire also has no state income or sales tax.

Another hot market—and sizzling state

Coming in second on our list was Oshkosh, WI. Listings here received three times more views than the national average in August, and a typical home costs $330,000.

Wisconsin was also the hottest state in August, with five metros appearing in the top 20.

In addition to Oshkosh, real estate in the Badger State was also hot in La Crosse (No. 10), Racine (No. 12), Janesville (No. 18), and Milwaukee (No. 19).

Wisconsin boasts a low cost of living, along with family-friendly amenities, nationally ranked health care, and close proximity to Chicago and Minneapolis.

More hot markets

Rockford, IL, nabbed the No. 3 spot. In August, houses there spent a median of 25 days on the market—which was 28 fewer days than the national average. The low cost of living attracted buyers, as the median list price was just $215,000—nearly half of the national median price of $429,990.

Rounding out the top five of the list were Springfield, MA, with its listings getting three times more views than the national average, and Concord, NH, with houses spending a median of 32 days on the market—23 fewer days than the national average.

Newcomers to the list

All but seven markets in the top 20 were also on the July list.

La Crosse, MN, and Erie, PA, jumped from 35th and 39th to 10th and 15th, respectively.

Although those two markets jumped the most, Columbus, OH (No. 16), Dayton, OH (No. 17), and Milwaukee (No. 19) also ascended into the top 20 this month, as did the two cities that tied for No. 20: Lancaster, PA, and Toledo, OH.

Metros that climbed the most—and plunged the furthest

The markets in the top 300 that heated up the most are Sioux Falls, SD (96 spots hotter), Bloomington, IL (87 spots hotter), and St. Cloud, MN (83 spots hotter).

Meanwhile, the markets that cooled down the most on the list include a mix of Southern and Western metros, according to Jones. They are Albany, GA (153 spots lower), Mobile, AL (109 spots lower), Tampa, FL (108 spots lower), and Wichita Falls, TX (107 spots lower).

Faster sales in hot markets

Homes in the hottest markets spent just 32 days on the market in August.

This was the same pace as last year, but about three weeks faster than the national median.

“High demand and scarce inventory conditions drive views per property higher, upping the competition for homes in the hottest markets and leading to snappier home sales,” says Jones.

Larger markets remain flat

The largest 40 markets across the country did not climb the hotness ranks, on average, compared with last year—which is the first month that large markets have not heated up annually since January 2023.

Prices fell an average of 1.5% in these markets, the second month of large-market average annual decline in the data’s history.

“Large markets are starting to adjust to subdued buyer demand by lowering home prices and selling lower-priced homes,” says Jones.

This month, the five most-improved large metros were scattered across the country, with three in the Midwest, one in the Northeast, and one in the West. They were Las Vegas (67 spots higher), Philadelphia (62 spots higher), New York City (49 spots higher), Pittsburgh (48 spots higher), and Kansas City, MO (46 spots higher).