The state with 4 of Americas hottest housing marketsand the red-hot city at the top

America’s housing market has been tepid at best lately, thanks to mortgage rates edging closer to 7% for the past weeks and already-high median prices remaining flat nationwide.However, prices in America’s top 20 hottest housing markets were up in October — by 2.9% on average compared to last year.(The median-priced home was $424,950 in October.)The uptick in home prices all comes down to “high demand and scarce for-sale inventory,” says Hannah Jones, Realtor.com senior economic research analyst in her report.Just how scarce are homes in the hottest markets? While active listings were up nationally by 29.2% in October compared to the previous year, housing stock only increased by 19.7% in the 20 hottest markets.Demand in the top 20 markets—as measured by views per property—was 2.6 times the national level in October, the same as the previous month, according to the report.The Manchester, NH, metro area has an impressive track record on the hottest markets list.

Not only did it claim the No.1 spot for the 10th month in a row in October, but it was also the country’s hottest housing market for the 31st time in the data’s history.Manchester’s relative affordability compared to Boston (55 miles away) makes this unassuming city a perennial favorite in the hotness ranking.The median home price in Manchester is $572,000, but it’s still a far cry from Beantown’s median price of $837,450.What else does New Hampshire have that Massachusetts doesn’t? Zero state income or sales tax.“This Boston-adjacent metro has been red-hot since March 2021, ranking among the top 3 markets each month for more than three years,” says Jones.

In fact, Manchester’s listings received 3.5 times more views in October than the national average.The Northeast and Midwest regions continue to dominate the hottest markets rankings as the only two regions to appear on the top 20 list for more than a year.The New England state of Connecticut has the most met...