"Curiously, three of the six California metropolitan areas tracked landed in the top 11 of this scorecard San Jose, Los Angeles-Orange County and the Inland Empire. But living in a hot market may not be the best thing. Various real estate trackers create these kinds of market rankings to suggest where homebuying might perk up the most in the future. But I have two problems with the way the rankings are characterized."
"Plus, when homebuying runs at a generationally slow pace as it has in the past three years, it's hard to see most U.S. markets as anything near hot status. Nevertheless, ponder what seems to be a key factor behind the Golden State's loftier grades: a shortage of homes to view. Listings run 23% below pre-pandemic 2018-19 levels in the six California metros, compared with 5% below in the 43-out-of-state metros tracked."
Zillow's 2026 hotness scorecard ranked upside potential in 49 major U.S. housing markets using real estate and economic metrics. Three of six California metros tracked—San Jose, Los Angeles-Orange County and the Inland Empire—placed in the national top 11. Inventory constraints appear central to California's stronger grades: listings across the six California metros run 23% below pre-pandemic 2018–19 levels, versus 5% below in the 43 out-of-state metros tracked. San Jose's median home value is $1.6 million and is forecast to rise 1% over the next year, while listed homes there are 27% below pre-pandemic levels. Slow, generationally low homebuying undercuts claims of broadly "hot" markets.
Read at www.ocregister.com
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