ConsumerAffairs has recently released a study examining the “hottest” housing markets in the country.
And it turns out that the coolest spot lies in Florida.
To put the data together, researchers looked at 200 of the biggest cities in the U.S., using factors like the amount of time homes stayed on the market to determine how these cities stacked up.
“While home sales have certainly sagged in some parts of the country, other areas are still experiencing a tight market where homes move fast — and often go for list price or more," the study reads.
Overall, most of the hottest markets happened to be in the northeast, including places like Hartford, Connecticut (No. 1); Rochester, New York (No. 2); and Manchester, New Hampshire (No. 3).
But on the flip side, all of the coolest markets were revealed to be in either Texas or Florida.
In fact, the coolest housing market in the nation turned out to be Naples in South Florida. Other Florida cities that ranked among the 10 coolest included Cape Coral, Miami, Crestview, Port St. Lucie and North Port.
“It’s not a coincidence that Texas and Florida are also the two states leading the nation in new home construction,” the study continues. “While each city’s housing market involves a unique mix of factors, this increase in supply may partially explain the market cooldown.”
However, researchers said that higher home prices and insurance costs in Florida may have stymied demand, helping the state’s housing markets to even out.
For more information about the study or for tips on navigating a competitive housing market, visit ConsumerAffairs’ website here.