Homes.com Q3 “State of the Housing Market” Report

by Nicole SelvaggiNovember 19, 2012

Leading real estate listings site Homes.com is excited to report a considerable increase in searches for this most recent quarter! An analysis of our data reveals the most frequently searched cities and the increases in home searches year over year from Q3 2011 to Q3 2012.

There are 10 cities that saw at least a 128 percent increase, more than double the searches from 2011. This indicates an improvement in the housing market over the past year and is great news for homeowners looking to sell.

The top 10 cities showing the largest increases in homes for sale searches from Q3 2011 to Q3 2012:

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  1. Baltimore, MD – 430%
  2. Norfolk, VA – 252%
  3. Minneapolis, MN – 158%
  4. Alpharetta, GA – 135%
  5. Charlotte, NC – 132%
  6. Franklin, TN – 131%
  7. Lexington, KY – 131%
  8. Asheville, NC – 130%
  9. Sioux Falls, SD – 129%
  10. Katy, TX – 128%

Baltimore, MD is making an impression on potential home buyers and leads the list with the largest increase by a whopping 430 percent. Baltimore also recently appeared as the #1 city from our Q2 Most Improved Cities in the Home Buying Market report. Could the convenient location between Washington DC and New York be influencing the trends for this city? Many real estate experts agree that “location, location, location,” has a tremendous affect on the performance of a housing market.

Norfolk, VA, home the world’s largest naval base and the corporate headquarters of Homes.com’s parent company, Dominion Enterprises, appears second with a 252 percent increase. A healthy job market could potentially fuel this increase and according to the Bureau of Labor Statistics, Norfolk currently enjoys a low 6.5% unemployment rate, which is well below the national average.

Although the housing market in North Carolina has known to suffer since 2006, two cities, Charlotte and Asheville, make the top 10 list and could suggest signs of improvement for the state. Charlotte, NC increases by 132 percent and recently appeared as the second most searched zip code from our Schools of Thought on the Real Estate Market report. Areas like Asheville, NC are reported to be thriving, according to a recent article from the Wall Street Journal, and this city illustrates signs of a healthy home buying market with a 130 percent increase.

Find the complete list of the top 100 searched cities here:
Q3-State-of-the-Housing-Market-Top-100-Cities-List-Revised1 Q3-State-of-the-Housing-Market-Top-100-Cities-List-Revised2

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Nicole Selvaggi

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