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In a year that saw high mortgage rates and increased housing supply, home prices will continue to rise. According to Realtor.com, the national median listing price for a single-family home was $450,000 for June. This is up 16 percent from June 2021 and over 31 percent from June 2020.
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This price increase is driving people away from buying, says Forbes. According to the Mortgage Bankers Association, mortgage applications are at a 22-year low.
However, regardless of home price figures and sales trends — and despite high inflation — consumers are spending. And according to Realtor.com’s eighth annual Hottest Zip Codes report, there are some areas in the U.S. that are more attractive than others, in “pricey metro areas.”
For its rankings, Realtor.com took into account high-demand zip codes (based on individual viewers on the site) and housing market velocity (based on the number of days a listing remains active on the site).
Here’s a list of the top 10 ZIPs by area and median home prices (as of June 2022).
|Level||zip code||zip name||Average List Price (Jun.)|
|1||14618||Brighton, New York||275,000 dollars|
|2||03062||Nashua, little||536,000 dollars|
|3||43085 of the year||Worthington, OH||467,000 dollars|
|4||03038||Derry, NH||447,000 dollars|
|5||04062||Wyndham, M||505,000 dollars|
|6||In 18017||Bethlehem, PA||424,000 dollars|
|7||37604||Johnson City, TN||329,000 dollars|
|8||03106||Hooksett, NH||482,000 dollars|
|9||02760||North Attleboro, MA||587,000 dollars|
|10||04210||Auburn, ME||267,000 dollars|
Apparently, it’s all about the Northeast as well. Eight of the top 10 most popular zip codes are in the Northeast region of the US, with the Midwest and South represented by one zip code each (Worthington, OH  and Johnson City, TN ).
Nearby cities and suburbs outside of Boston are especially attractive to those looking for affordable housing away from the metro area. The Manchester-Nashua and Concord, New Hampshire zips are also hot this year.
“With inflation and mortgage costs squeezing monthly home budgets, determined buyers are breathing new life into historic areas like New England this year,” Realtor.com chief economist Danielle Hale said in a statement.
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“Our 2022 Hottest Zips ranking shows that many Americans are trading their priorities for homeownership while building their careers for relatively affordable new city living and leisure commutes to big cities,” Hale said.
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