"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. Such hotness is in the eye of the beholder. Sellers may prefer hot climates, as the ranking suggests firmer pricing. Of course, that could be misleading hype about a home's true value."
"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. San Jose got the highest ranking on the Zillow scale, No. 5 nationally and a stunning reversal from 2025's No. 48 ranking. Its median home value of $1.6 million is forecast to rise by 1% over the next year."
Three of six California metropolitan areas tracked—San Jose, Los Angeles-Orange County and the Inland Empire—placed in Zillow's top 11 hotness rankings. Low for-sale inventory in California drives higher hotness scores: listings run 23% below pre-pandemic 2018–19 levels across the six metros versus 5% below in out-of-state metros. San Jose jumped to No. 5 nationally with a $1.6 million median value forecast to rise 1% next year, and listed homes there remain 27% below pre-pandemic levels. Hot market labels tend to favor sellers, while slow markets benefit bargain-seeking buyers.
Read at The Mercury News
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