Fresno is one of the nation’s 20 hottest markets for real estate

BY BONHIA LEE

AUGUST 31, 2016

Fresno has made Realtor.com’s August list of “America’s 20 Hottest Markets for Real Estate.”

We come in No. 15, two spots better than last month, and are among 11 California cities on the list including San Francisco, Stockton and San Diego. Vallejo is No. 1 continuing its streak of four straight months at the top.

Realtor.com, the industry’s leading website, looked at demand (the number of times home listings were viewed) and supply (the median number of days homes were for sale) to determine the hottest markets nationwide.

In Fresno, homes were on the market for a median of 47 days. Vallejo homes, for comparison, spent a median of 37 days on the market for sale.

“Summer 2017 was one of most competitive buying seasons that we have ever witnessed, fueled by historically low mortgage rates and inventory shortages that resulted in record-high prices,” said Jonathan Smoke, chief economist for realtor.com.

Read more here: http://www.fresnobee.com/news/business/biz-columns-blogs/real-estate-blog/article99030477.html#storylink=cpy