In Homes.com’s first “State of the Housing Market” report of 2013, we are pleased to announce that many larger metros (including Boston, D.C., and San Francisco) hold promise for this year! This report showcases the top frequently searched cities in the U.S. as well as the significant increases in “For Sale” searches from Q1 2012 to Q1 2013.
The top 10 cities with the largest increase experienced more than double the inquiries from 2012 and therefore clearly demonstrate the continued growth in the home buying market over the past year. They are:
- Boston, MA – 107%
- San Francisco, CA – 106%
- Washington, DC – 104%
- New York, NY – 97%
- Louisville, KY – 95%
- Phoenix, AZ – 94%
- Atlanta, GA – 89%
- Chicago, IL – 78%
- Charleston, SC – 74%
- Houston, TX – 72%
Boston, MA leads with the highest search growth, a 107 percent increase from the same quarter the year before. No stranger to increased search activity, Boston was previously featured in our Quarterly Top 5 Most Improved Search Cities in the Home Buying Market for Q2 2012 with almost a 108 percent increase. Favorable job market conditions could be contributing to the continued growth and interest in this area. Boston is also considered a global city as it is “placed among the top 30 most economically powerful cities in the world[i].”
The nation’s capital, Washington, DC, ranks number three in the highest search activity with an increase of 104 percent. This city “has a growing, diversified economy with an increasing percentage of professional and business service jobs[ii],” which could be influencing the decision of potential residents. It’s also quite the festive cultural center, as we noted in our Home for the Holidays report.
Some major cities that are known for having higher home prices also make the list; San Francisco, CA saw a 106 percent increase and New York, NY saw a 97.5 percent increase. In addition to being home to some of the nation’s most expensive real estate, these cities possess fairly healthy job markets and appear to becoming sought after this year by potential home buyers.
For more information, check out the complete list of 100 top searched cities in the U.S. here:
[i] Wikipedia, Boston
[ii] Wikipedia, Washington, D.C.