Wednesday
June 28, 2017

Fast-Moving Markets' Demographic Secret?

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Fast-Moving Markets' Demographic Secret?

Though we're heading into what is traditionally a slowdown in real estate as cooler temperatures and the holiday season looms, some markets are still seeing rapidly-moving sales. According to the realtor.com® September National Housing Trend Report released today, these markets have an interesting demographic similarity: large populations of engineers and Baby Boomers.

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"When we see homes moving quickly in a particular market, we expect the trend to be supported by signs of local health like growth in economic production and employment," said Jonathan Smoke, chief economist for realtor.com®. "This month, we also observed more out of the ordinary trends including high proportions of math and science professionals, as well as Baby Boomers in each of the fast moving markets. As the technology industry grows and aging Baby Boomers decide to make housing moves to support their retirement, we'll continue to see strong housing demand associated with these factors."

Here are the 12 markets that realtor.com® listed as the fastest-moving, with average properties spending less than two months on the market:

  1. Oakland, Calif.
  2. San Jose, Calif.
  3. San Francisco, Calif.
  4. Denver, Col.
  5. Washington, DC
  6. Seattle-Bellevue-Everett, Wash.
  7. Houston, Texas
  8. Los Angeles-Long Beach, Calif.
  9. Austin-San Marcos, Texas
  10. Omaha, Neb.
  11. San Diego, Calif.
  12. Melbourne-Titusville-Palm Bay, Fla.

Source: "Realtor.com® Data: Fastest Moving Markets Are Home to High Populations of Engineers and Baby Boomers," Move, Inc. (Oct. 20, 2014)