When it comes to housing markets, Fort Wayne has the nation beat, a popular online home-sales site announced Monday.
The Summit City tops 20 other communities – including second-place Rochester, New York, and third-place Columbus, Ohio – in Realtor.com's ranking of hottest real estate markets.
Two other Hoosier areas – Lafayette and Elkhart-Goshen – ranked sixth and 16th, respectively.
Beth Walker, owner of Fairfield Group Realtors in Fort Wayne, said desirable mortgages are contributing to the city's hopping market.
“Buyers are realizing two key factors: first, they may be able to buy a house and have a monthly payment less than rent; and second, they have to be prepared to act fast because Fort Wayne homes don't linger long on the market,” Walker said in a statement.
The ranking is based on the number of people who are viewing homes on Realtor.com as a measure of buyer demand and the median number of days houses stay on the market as an indicator of supply.
Fort Wayne, which ranked 12th last summer, rose to No. 1 based on July data. It had nearly triple the number of views compared to typical properties nationwide, and its days-on-market housing sales fell seven days over the past year, according to Realtor.com.
The website noted the top markets aren't big, famous cities but smaller metropolitan areas, including industrial towns benefiting from revitalizations and less expensive towns near pricier communities.
“Buyers can secure a good-sized home and not be mortgage poor and get a good quality of life,” said Walker, also president of the Upstate Alliance of Realtors in Indiana.
“Affordable markets with community attractions and reasonable proximity to larger cities make markets like Fort Wayne especially enticing,” she added.
1. Fort Wayne
2. Rochester, N.Y.
3. Columbus, Ohio
4. Pueblo, Colo.
5. Midland, Texas
7. Kennewick, Wash.
8. Manchester, N.H.
9. Colorado Springs, Colo.
10. Spokane, Wash.