House prices have skyrocketed this year, and the trend has reached much of the country. S&P Case-Shiller’s closely monitored property price index showed that nationwide residential property prices rose 16.6% in May, a record high. In Phoenix, prices are up more than 20%.
The growth is due to several factors. One of them is the historically low mortgage rates. Another is migration from expensive coastal cities like New York and San Francisco to smaller ones inland. It is believed that in these places it is cheaper to live and the standard of living is higher. Finally, working from home caused by the COVID-19 pandemic has allowed people to be more mobile.
Realtor.com created an index to find out which zip codes are the most “popular” for real estate. He published the results as part of his annual roster. Most Popular Postcodes in America:
These are the most coveted communities in the country, where demand is growing and homes are selling the fastest. Many are more affordable in remote suburbs, where new buyers still have a chance to buy a home. Others are small towns that offer more square meters for that price. Some of the more expensive city blocks offer city-style amenities and first-class schools at higher prices.
Specifically, Realtor.com measured the number of unique viewers for each property and the number of days that an ad remains active on its website.
Colorado Springs topped the list with the zip code 80916 in particular. One thing that stands out about the zip code is that homes only stay on the market for an average of four days. The average postcode listing price is $ 318,000, which is inexpensive by national standards. Over the year, the number of views of properties with a zip code increased by 36%.
Summing up the market by zip code, Linda Leiss Landry, local real estate agent for the Berkshire Hathaway Synergy Group, said: “Real estate is selling like crazy. We are now in one of the most popular relocation destinations. ”
Basically, this means that people looking to upgrade to a zip code are out of luck.