Housing markets are not usually sizzling during January, due to the weather. But Realtor.com staffer Cicely Wedgeworth takes a look at the data and finds signs that buyers are getting ready to jump into the market when it's time. Wedgeworth analyzes listing views and age of inventory in the nation's largest markets and identifies the top 20 markets that have defied the winter cold. She writes,
"For now, buyers have fewer choices than they will later in the year, but of course there’s also less competition. Jonathan Smoke, chief economist of realtor.com, expects listing inventory for January to trend down 7% over December, following the usual winter pattern. The median age of inventory is now 100 days, which means it’s taking homes 6% longer to sell in January than in December, but that’s still 4% faster when compared with January 2015.
The median listing price for January is estimated at $227,000, remaining virtually flat over December, but still up 8% year over year."
The top 20 markets in January are: San Francisco, Calif., San Jose, Calif., Dallas, Texas, Vallejo, Calif., San Diego, Calif., Sacramento, Calif., Nashville, Tenn., Stockton, Calif., Denver, Colo., Los Angeles, Calif., Santa Rosa, Calif., Oxnard, Calif., Palm Bay, Fla., Yuba City, Calif., Modesto, Calif., Detroit, Mich., Midland, Texas, Santa Cruz, Calif., Tampa, Fla., and Fort Wayne, Ind..