This time of year — after school lets out but before summer's oppressive heat takes over — is what a lot of folks consider the best time to buy a house. Realtor.com agrees, and according to its May trend report, the Dallas-Fort Worth-Arlington area is the fourth hottest residential market in the country.
This "real estate hotness index" is composed of two indicators: the number of views per listing on Realtor.com and the median age of inventory in each market.
Where views are concerned, the Dallas metro area is tops, netting 3.3 times more pageviews per listing than the U.S. average. That's 2.2 times more than the overall Texas average, and still more than Denver, San Francisco and San Jose (which are the top three hot markets right now).
"This metro is still red hot and shows no signs of cooling down," says Realtor.com chief economist Jonathan Smoke.
Dallas also ranks No. 9 on the fast-moving supply list. Homes here are only on the market an estimated 37 days, which is 29 days lower than the U.S. average of 66 days and 22 days lower than the Texas average.
Another achievement is that Texas is one of only three states to get two cities in the top 20; Austin-Round Rock joins in at No. 16. Colorado triumphs with No. 1 Denver and No. 13 Boulder, and Michigan shows strong with No. 9 Ann Arbor and No. 10 Detroit.
The cities' economic gains are noted, but Texas' ability to succeed in the face of declining oil demand is praised.
Here is the complete list of Realtor.com's 20 hottest markets right now:
1. Denver-Aurora-Lakewood, Colorado
2. San Francisco-Oakland-Hayward, California
3. San Jose-Sunnyvale-Santa Clara, California
4. Dallas-Fort Worth-Arlington, Texas
5. Vallejo-Fairfield, California
6. Boston-Cambridge-Newton, Massachusetts
7. Santa Cruz-Watsonville, California
8. Santa Rosa, California
9. Ann Arbor, Michigan
10. Detroit-Warren-Dearborn, Michigan
11. San Diego-Carlsbad, California
12. Sacramento-Roseville-Arden-Arcade, California
13. Boulder, Colorado
14. Fargo, North Dakota
15. Los Angeles-Long Beach-Anaheim, California
16. Austin-Round Rock, Texas
17. Oxnard-Thousand Oaks-Ventura, California
18. Manchester-Nashua, New Hampshire
19. Columbus, Ohio
20. Stockton-Lodi, California