The best U.S. markets face inventory challenges

by Ryan Smith02 Nov 2015
Last month, 29 metro areas made Pro Teck Valuation Services’ list of hot markets, scoring perfectly on the company’s Home value Forecast. And all 29 have one problem in common – they have less than four months of remaining inventory.

Pro teck generates its list by taking into account a number of market indicators, including sales and listing activity and process, average days on the market, sold-to-list-price ratio and more. But when the company looked at its hottest markets, it found that all were short on inventory – and all had recently seen double-digit percent decreases in active listings.

“While new housing units are on the upswing, the numbers are still at historical lows,” said Pro Teck CEO Tom O'Grady. “That, combined with approximately 2.5 million single-family homes becoming rental units since the crash has left the U.S. with a limited housing supply.”

Pro Teck’s hottest markets, with their remaining months of intentory:
  1. Anaheim-Santa Ana-Irvine, California - 3.83
  2. Bellingham, Washington - 2.50
  3. Boise City, Idaho - 2.63
  4. Charlotte-Concord-Gastonia, North Carolina-South Carolina - 3.96
  5. Chico, California- 3.72
  6. Durham-Chapel Hill, North Carolina - 3.89
  7. Grand Rapids-Wyoming, Michigan- 3.51
  8. Lafayette-West Lafayette, Indiana - 3.61
  9. Los Angeles-Long Beach-Glendale, California - 3.78
  10. Medford, Oregon - 3.68
  11. Modesto, California - 2.52
  12. Mount Vernon-Anacortes, Washington - 2.83
  13. Oak Harbor, Washington - 2.80
  14. Olympia-Tumwater, Washington - 2.78
  15. Oxnard-Thousand Oaks-Ventura, California - 3.66
  16. Phoenix-Mesa-Scottsdale, Arizona - 3.39
  17. Portland-Vancouver-Hillsboro, Oregon-Washington - 2.41
  18. Punta Gorda, FL - 3.93
  19. Raleigh, North Carolina - 3.27
  20. Sacramento--Roseville--Arden-Arcade, California - 2.21
  21. Salinas, California - 3.66
  22. Salt Lake City, Utah - 3.45
  23. San Antonio-New Braunfels, Texas - 3.04
  24. San Diego-Carlsbad, California - 2.22
  25. San Jose-Sunnyvale-Santa Clara, California - 1.84
  26. Seattle-Bellevue-Everett, Washington - 1.86
  27. Stockton-Lodi, California - 2.54
  28. Vallejo-Fairfield, California - 2.37
  29. Wichita, Kansas - 3.16

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