- A recent report by Realtor.com found April's 20 most in-demand cities for prospective homebuyers.
- The report measured the 40 largest US metro areas and found the listings that were viewed the most and where homes were spending the least amount of time on the market.
- Visit Business Insider's homepage for more stories.
During the deadliest month of the coronavirus pandemic, prospective buyers leaned toward certain US housing markets.
A recent report by Realtor.com found April's 20 hottest metro areas for prospective homebuyers, measuring where listings were being viewed the most and where homes were spending the least amount of time on the market. The report considered the 40 largest US metro areas.
According to the report, the top 20 markets saw 1.8 to 2.9 times the amount of views per home for sale compared with the national rate. And homes in these markets are moving between 13 to 31 days faster.
Realtor.com said that while these markets were the top performers of the month, their numbers were dragged down by the pandemic.
"In April's rankings, just 4 of the 20 hottest markets saw a year-over-year improvement in days on market compared to March, when all 20 were moving faster. Moreover, April saw 15 of the top 20 markets decline in views per property compared to last year; in March there were just three markets seeing declines," the report said.
"Despite these overall market slowdowns, familiar locales continued to rank near the top of our list of hottest markets. So although some markets are showing improvements along key metrics, April's hottest markets list is a sign of market resilience more so than a list of thriving markets," it added.
The housing market on a national level took a hit in April
Another report from Realtor.com in early May showed that the national inventory in April saw a year-over-year decrease of 15.3%. And the homes that were for sale sat on the market for 62 days on average, four days more than the same time last year.
The drop in inventory was largely because of the decrease in new listings, which saw a year-over-year decrease of 44.1%, as sellers have and still are opting to hold off on listing their properties until the market levels out.
One group of sellers expected to make a big splash in the 2020 market was the baby boomers, who are largely at or nearing retirement age and likely to list their homes. However, Realtor.com predicted that those who are already holding on to properties would be more inclined to keep them off the market for another year, when the market could normalize.
There are a few reasons that baby boomers are holding back, George Ratiu, Realtor.com's senior economist, told Business Insider. One is that it's hard to ascertain the right price in the current market. In addition, once those sellers become buyers, they will enter a market with very little inventory, resulting in few options.
That leaves millennials as the relative losers, who were at or near homebuying age anyway, before the coronavirus-led recession and remote-working situation opened up many possibilities for them to leave their rented apartments and hunt for property deals.
So what cities were people looking at in April?
The 20 hottest markets in April were spread across 10 states
The states that made the list were: California, Colorado, Indiana, Kansas, North Carolina, New Hampshire, New York, Ohio, Washington, and Wisconsin.
The state that dominated was California, which had seven markets in the top 20. Colorado had the metro area that ranked No. 1.
The biggest cities, including New York and Los Angeles, didn't make the list.
Keep reading for the full list.
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DON'T MISS: Here's how the largest housing markets in California performed in April
20. San Francisco-Oakland-Hayward, California
Views per property year-over-year change: -7%
Days on the market: 40
Days on the market year-over-year change: 11
Median listing price: $938,500
Median listing price year-over-year change: 1%
19. Dayton, Ohio
Views per property year-over-year change: 4%
Days on the market: 49
Days on the market year-over-year change: 7
Median listing price: $188,500
Median listing price year-over-year change: 22%
18. Rochester, New York
Views per property year-over-year change: -18%
Days on the market: 48
Days on the market year-over-year change: 13
Median listing price: $250,000
Median listing price year-over-year change: 8%
17. Racine, Wisconsin
Views per property year-over-year change: -15%
Days on the market: 44
Days on the market year-over-year change: 4
Median listing price: $265,000
Median listing price year-over-year change: -4%
16. Milwaukee-Waukesha-West Allis, Wisconsin
Views per property year-over-year change: -5%
Days on the market: 45
Days on the market year-over-year change: 2
Median listing price: $340,600
Median listing price year-over-year change: -1%
15. Burlington, North Carolina
Views per property year-over-year change: -8%
Days on the market: 45
Days on the market year-over-year change: -14
Median listing price: $267,200
Median listing price year-over-year change: 3%
14. Stockton-Lodi, California
Views per property year-over-year change: -3%
Days on the market: 41
Days on the market year-over-year change: 6
Median listing price: $438,600
Median listing price year-over-year change: 3%
13. Yuba City, California
Views per property year-over-year change: -17%
Days on the market: 45
Days on the market year-over-year change: -3
Median listing price: $370,000
Median listing price year-over-year change: 10%
12. Spokane-Spokane Valley, Washington
Views per property year-over-year change: -23%
Days on the market: 39
Days on the market year-over-year change: 6
Median listing price: $381,300
Median listing price year-over-year change: 9%
11. Vallejo-Fairfield, California
Views per property year-over-year change: -4%
Days on the market: 39
Days on the market year-over-year change: 10
Median listing price: $490,000
Median listing price year-over-year change: 1%
10. Fresno, California
Views per property year-over-year change: 9%
Days on the market: 43
Days on the market year-over-year change: 4
Median listing price: $329,800
Median listing price year-over-year change: 5%
9. Sacramento–Roseville–Arden-Arcade, California
Views per property year-over-year change: -14%
Days on the market: 38
Days on the market year-over-year change: 3
Median listing price: $499,100
Median listing price year-over-year change: 2%
8. Lafayette-West Lafayette, Indiana
Views per property year-over-year change: -12%
Days on the market: 40
Days on the market year-over-year change: 6
Median listing price: $260,000
Median listing price year-over-year change: 3%
7. Manchester-Nashua, New Hampshire
Views per property year-over-year change: -15%
Days on the market: 43
Days on the market year-over-year change: 2
Median listing price: $391,000
Median listing price year-over-year change: 4%
6. Modesto, California
Views per property year-over-year change: 1
Days on the market: 39
Days on the market year-over-year change: 1
Median listing price: $377,500
Median listing price year-over-year change: 3%
5. Columbus, Ohio
Views per property year-over-year change: -16%
Days on the market: 43
Days on the market year-over-year change: 6
Median listing price: $309,600
Median listing price year-over-year change: 3%
4. Pueblo, Colorado
Views per property year-over-year change: 5%
Days on the market: 34
Days on the market year-over-year change: -11
Median listing price: $286,300
Median listing price year-over-year change: 4%
3. Topeka, Kansas
Views per property year-over-year change: 17%
Days on the market: 40
Days on the market year-over-year change: 3
Median listing price: $161,300
Median listing price year-over-year change: 14%
2. Fort Wayne, Indiana
Views per property year-over-year change: -17%
Days on the market: 40
Days on the market year-over-year change: -16
Median listing price: $235,200
Median listing price year-over-year change: 0%
1. Colorado Springs, Colorado
Views per property year-over-year change: -2%
Days on the market: 32
Days on the market year-over-year change: 2
Median listing price: $472,500
Median listing price year-over-year change: 11%