Top 10 For Sale Markets Show 251% Faster Turnover Rate Than National Average
The "Top 10 Fastest Moving Housing Markets" report released by HotPads.com reveals markets with higher than average for sale turnover rates across the US.
The list represents the top 10 cities experiencing the fastest home sales turnover during January 2011, an indicator which may also forecast metro areas with the strongest real estate transactions throughout the year.
The top 10 cities show a 251% faster listings turnover rate than the national average. Flint, Michigan; Gainesville, Florida; and St. Joseph, Missouri are among the top three cities with highest rates, with Flint seeing an impressive 411% faster turnover rate than the national average.
The higher turnover rate may indicate the geographical leading edge of the housing recovery where home buyers' confidence is rebounding. With the market oversaturated with housing inventory, a faster turnover rate is a positive development.
To compile the list, metro areas with a population of at least 100,000 and at least 500 listings on HotPads were considered. The ranking takes into account number of days listings were active on HotPads and number of listings in that time period. The list is sorted by shortest median number of days listings from each city were available on HotPads.
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