REALTOR.com’s June Top 20 list of national housing markets confirms that affordable housing alternatives to pricey core Bay Area communities still see extremely strong demand.
Vallejo, which is actually the Vallejo-Fairfield Metropolitan Statistical Area, which is actually all of Solano County, which has historically been the most affordable of the nine Bay Area counties, was the hottest market in the nation this June.
Nearby Santa Rosa, which is actually the Santa Rosa-Petaluma MSA, which is actually all of Sonoma County, came in a smokin’ 17th on the national list.
Yuba City, which is actually the Yuba City-Sutter MSA, which is actually Yuba and Sutter Counties, which is actually north of Sacramento–are the communities to the south, more convenient to the Bay Area, getting too expensive?–placed a sizzling 19th. And speaking of Sacto, which you’re guessing is actually an MSA, in this case comprising four counties, it was a scorching 4th nationally.
Further proving that California rules! Stockton and Modesto, each its own MSA, but actually San Joaquin and Stanislaus Counties respectively, were 14th and 20th in real estate hotness! nationally.
Fans of pricey Bay Area housing shouldn’t fear a cool down, however. The San Francisco MSA was still hot! hot! hot! at #2, the San Jose MSA a blazing (if not igneous) #9.
A few non-California cities somehow snuck on REALTOR.com’s Top 20 list. Kennewick WA was a broiling 3rd, but not, I think, due to Bay Area workers looking for an affordable alternative to torrid Los Altos–although, judging from its location, it may be an affordable alternative for Seattle’s and Portland’s young professionals. Confirming my hunch is this, from the Wikipedia entry for decalescent Kennewick: “as of 2013, the historical downtown area is undergoing a rebirth…with a specialty gift boutique in a newly restored building, art galleries, wine bars and local breweries, upscale dining, and a full-service hardware center”.
Yup. Meanwhile, back at the ranch, you’ll recall that Portland, whose MSA includes large chunks of urban Oregon and Washington State, has been a favorite destination of Californians priced out of that state’s incandescent, even recalescent housing market.
Maybe homebuyers are starting to need affordable alternatives to affordable alternatives?
copyright © John Fyten 2017