The Hottest Housing Markets Are Not in Arizona Right Now. Here Is Why That Is Good For You.
A widely shared ranking named the country’s hottest housing markets, and they sit in the Northeast and Midwest, not the Southwest. Before you read that as bad news for the East Valley, look at what hot actually measures. For a buyer, being outside the frenzy is often the better place to stand.
Every month a new ranking of the country’s hottest housing markets makes the rounds, and the latest one put a pair of midsize Northeast and Midwest metros at the top, places like Hartford and Erie. Scan the list and you will notice something: the Southwest is not on it. It would be easy to read that as the East Valley falling behind. It is not. The word hot in these rankings does not mean what most people think, and once you understand what it actually measures, being off the list starts to look like an advantage.
What a hot market actually measures
These lists are not ranking the best places to live, or even the places where prices are climbing fastest. They measure buyer competition. Specifically, they track how many people are looking at each listing and how quickly homes go under contract.
What lands a metro at the top
- Lots of eyes per listing. Far more buyers viewing each available home than the national average.
- Homes selling fast. Listings going under contract well ahead of the typical market.
- Very tight supply. Not enough homes for sale to go around, which concentrates demand.
- Lower prices drawing crowds. Many top markets are simply more affordable, which pulls in a stampede of buyers.
Read that list again from a buyer’s seat. Every one of those traits describes a place where you would face more competition, move faster than you might want to, and have less room to negotiate. Hot is wonderful if you already own there and are selling. If you are the one trying to buy, hot is the environment that works against you.
Hot for a seller, hard for a buyer
| In a hot market, a buyer faces | In a cooler market, a buyer gets |
|---|---|
| Bidding wars and offers over asking price. | Room to negotiate closer to, or under, asking. |
| Pressure to decide in hours, not days. | Time to think, inspect, and choose carefully. |
| Waiving protections just to compete. | Keeping your inspection and other safeguards intact. |
| Sellers holding all the leverage. | Sellers more willing to help with costs and terms. |
The East Valley sitting off the hottest-markets list is not a sign of weakness. It reflects a market with more breathing room than those frenzied metros, which is exactly the condition a buyer wants. More time, more choice, and more negotiating leverage than someone competing in a red-hot metro elsewhere. The trick is to use that advantage while it lasts, by being prepared to act when the right home appears.
A ranking like this describes broad metro-level demand, not your street and not a specific home. What a particular house is worth, and how competitive a given neighborhood really is, are questions for a local real estate agent who watches those sales every day. Lean on them for the on-the-ground read. My job is making sure that when you find the right home, your financing is ready to move.
Do not envy the hot list
The hottest markets are the ones where buyers are fighting hardest, paying the most over asking, and giving up the most protection to win. That is not a club you should be sad to miss. A calmer market gives a prepared buyer time, choice, and leverage, and that is worth more than a spot on a viral ranking. Get your financing lined up, lean on a great local agent for the neighborhood-level read, and put the real advantage you have here to work, right across the East Valley.
This article is for general educational purposes and is not a commitment to lend or financial advice. Market ranking and figures cited reflect third-party data for the period noted and describe metro-level conditions; local market conditions vary by area, price point, and property, and past trends do not guarantee future results. Consult a licensed real estate agent for neighborhood-level and property-specific guidance. Getting pre-approved does not guarantee loan approval. CrossCountry Mortgage is a private lender and is not acting on behalf of, or at the direction of, the U.S. Department of Veterans Affairs. Equal Housing Opportunity.
