10 American metro regions with the fastest-selling homes, according to a new research

In the dynamic U.S. housing market landscape, the recent report by Creditnews Research has brought to light new insights, identifying metro areas where homes are selling with unprecedented speed. Using data from Zillow, this analysis delved into the 100 largest U.S. metros by population, focusing on the speed at which homes move from listing to sale-pending status.

Spanning from January 2020 to January 2024, this study provides a unique lens on the shifts within the housing market, particularly in light of the Covid-19 pandemic. The findings highlight a significant trend: the fastest-selling homes are predominantly located on the East Coast and in the Midwest.

A particularly interesting result from this study is the overlap between the top ten fastest-selling markets and those experiencing the most substantial drops in housing inventory per capita since the start of 2020. This intersection underscores a growing demand in these specific areas.

Contrary to expectations based on its strong performance during the pandemic, as noted by CNBC’s America’s Top States for Business, no Florida cities made the top ten list from Creditnews Research, indicating a potential cooling in the Sunshine State’s housing market.

Hartford, Connecticut: A Standout Market

Leading the pack, Hartford, Connecticut, has emerged as the U.S.’s fastest-selling housing market. As of January 2024, homes in Hartford were moving from listing to pending sale in just eight days — a dramatic drop from the 52 days noted in January 2020.

This represents an 84.62% decrease, the largest among the metros analyzed. Additionally, Hartford saw the second-largest decline in housing inventory, falling by 67.20% since 2020.

Despite this market heat, Hartford maintains a slightly higher cost of living than the national average but offers housing expenses that are 2% lower. The city is renowned as the global center of the insurance industry, hosting over a hundred companies’ headquarters, and was spotlighted as one of Realtor.com’s top markets of 2023.

Detailed List of Top 10 Fastest-Selling Housing Markets:

  1. Hartford, Connecticut

    • Median days-to-pending: 8 days
    • Percentage drop since January 2020: -84.62%
  2. Rochester, New York

    • Median days-to-pending: 9 days
    • Percentage drop since January 2020: -73.53%
  3. Syracuse, New York

    • Additional specifics not provided, known for its educational and economic significance.
  4. Harrisburg, Pennsylvania

    • Additional specifics not provided, noted for its rich history and cultural vibrancy.
  5. Richmond, Virginia

    • Additional specifics not provided, a city with historical depth and economic growth.
  6. Grand Rapids, Michigan

    • Additional specifics not provided, recognized for its art and manufacturing sectors.
  7. New Haven, Connecticut

    • Additional specifics not provided, famed for Yale University and cultural offerings.
  8. Boston, Massachusetts

    • Additional specifics not provided, celebrated for its historical, educational, and cultural assets.
  9. Columbus, Ohio

    • Additional specifics not provided, known for its diverse economy and status as Ohio’s largest city.
  10. Worcester, Massachusetts

    • Additional specifics not provided, highlighted for its healthcare, biotech, and education sectors.

The rankings from Creditnews Research offer critical insights for buyers, sellers, and investors alike, showcasing the fast-paced nature and regional nuances of the American housing market. As the industry continues to evolve, understanding these trends is key to navigating the complex landscape of real estate.