- Through August, sales of single-family homes and condos were at an eight-year high nationwide with a growing share of buyers using FHA loans to purchase.
- We also looked at the markets with the biggest decrease in home sales from a year ago, and not too surprisingly, these are all in the Rust Belt, which continues to experience a population drain.
- A few of the cities where buyers are back are Seattle, Portland and Salt Lake City. Buyers are backpedaling in Cleveland, New York and Chicago.
Through August, sales of single-family homes and condos were at an eight-year high nationwide with a growing share of buyers using FHA loans to purchase. RealtyTrac looked at the markets with at least 10,000 single-family home and condo sales through the first eight months of the year to see which are seeing the biggest increase in home sales from a year ago, which indicated regular buyers are back in force.
All top five markets are millennial hot spots that have the type of amenities that appeal to millennials — not to mention jobs for those millennials — but without as high of a price tag that comes with traditional millennial meccas such as San Francisco and New York. Although certainly prices are rising quickly in many of these markets.
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We also looked at the markets with the biggest decrease in home sales from a year ago, and not too surprisingly, these are all in the Rust Belt, which continues to experience a population drain.
Daren Blomquist is the vice president of RealtyTrac.
