High-income millennials are the force behind a nearly 10 percent decrease in the amount of time homes spend on the market in the most popular areas of the country, according to a new realtor.com® report. Young adults are driving demand for homes in smaller, more suburban locales, and realtor.com® pinpointed the following as the hottest ZIP codes: Kentwood, Mich. (49508); Peabody, Mass. (01960); Boise, Idaho (83704); Rochester, N.Y. (14624); and Upper Montclair, N.J. (07043).
“When it comes to choosing a home of their own, millennials are looking for opportunity, and they’re finding it in affordable suburbs,” says realtor.com® Chief Economist Danielle Hale. “These hot housing markets are attracting the attention of hard-working, high-earning 25- to 34-year-olds who are drawn by their relative affordability, strong local economies, and outdoor and cultural amenities.”
Homes in this year’s top 10 hottest ZIP codes sell, on average, in just 20 days—46 days faster than the rest of the country. Further, visitors to realtor.com® viewed homes in these markets four times more often than homes in others, and list prices in the majority of the top 10 markets are appreciating. The following is realtor.com®’s rankings of the top 50 hottest ZIP codes for housing in the country.
