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It's almost the end of March, and Spring has begun for most parts of the country. As BUILDER has reported, the steady but slow growth of total housing inventory in the market is still not enough to meet demand. staffer Cicely Wedgeworth consults preliminary data collected by the website to identify the 20 hottest real estate markets of March. Wedgeworth writes,

Naturally, the heightened appetite for a limited stock of housing is pushing up home prices. The projected median list price for March is $238,000—an increase of 3% from February, and 8% above the previous March. It looks like March will have 3% more homes on the market compared with February, and that’s a welcome addition. But here’s a reality check: That’s still 2% less than we saw in March 2014. Probably because of the lack of inventory, homes were selling faster in March, spending a median of 77 days on the market. That’s 20% faster than in February, and 13% faster than the previous year.

Pulling together the numbers on listing views per market (which shows the level of demand) and median days on market (which shows supply), we came up with a ranked list of the 20 hottest medium-size to large markets in the country. These are the markets where buyers are eager and homes are selling fast—listings get two to five times more views than the national average, and homes sell one or two months faster than in the rest of the country.

The top-20 for March are:

  1. San Francisco, Calif.
  2. Vallejo, Calif.
  3. Denver, Colo.
  4. Santa Cruz, Calif.
  5. Dallas, Texas
  6. San Jose, Calif.
  7. Santa Rosa, Calif.
  8. Sacramento, Calif.
  9. San Diego, Calif.
  10. Stockton, Calif.
  11. Colorado Springs, Colo.
  12. Oxnard, Calif.
  13. Eureka, Calif.
  14. Modesto, Calif.
  15. Raleigh, N.C.
  16. Boston, Mass.
  17. Los Angeles, Calif.
  18. Boulder, Colo.
  19. San Luis Obispo, Calif.
  20. Lafayette, Ind.
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