Vallejo Ranks First in Nation's Hottest Housing Markets #investment #realestate #homeownership

Source:  Mercury News

The Vallejo-Fairfield market in Solano County is the No. 1 "hottest" in the nation.  Vallejo, a city whose reputation has been tarnished through the years by news reports about crime and gangs, has established itself as a hot housing destination, according to the June index from realtor.com.

Making Sense of the Story:
- Last month's sale price for a single-family home in Vallejo was $365,000 and properties are moving quickly.

- The monthly index measures where houses are selling the fastest - they're typically gone within 31 days in Vallejo-Fairfield - as well as which markets are generating the most listing views on realtor.com.

- Beyond that, the index has become a reflection of the Bay Area's housing crisis, which is pushing commuters to purchase homes at relatively affordable prices in out-of-the-way places.

- The San Francisco-Oakland-Hayward metropolitan area is the No. 2 "hottest" in the country, and San Jose-Sunnyvale-Santa Clara is No. 9 on the list.

- The index ranks the Stockton-Lodi area as the 14th hottest market in the U.S.

- The Sacramento-Roseville-Arden-Arcade metro area (No. 4) and Santa Rosa (No. 17).  Yuba City - in Sutter County, about 40 miles north of Sacramento - is the nation's 19th hottest market, and Modesto is No. 20.

- Realtor.com reports that "there were 11 percent fewer homes on the market (nationally) in June 2017 than during the same time last year, marking 24 consecutive months of year-over-year inventory declines."

Check out the full story here:
http://www.mercurynews.com/2017/06/29/nations-hottest-housing-markets-include-oakland-san-jose-and-vallejo/

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