Markets in Colorado and the Carolinas are drawing the most potential home buyers, according to data released Thursday by ATTOM Data Solutions.
The property data company analyzed mortgage applications to create its “Pre-Mover Housing Index,” a measure of the proportion of homes likely to sell in a market.
The index is based on the ratio of mortgage applications that include an estimated loan settlement date to the number of homes in a given market. Mortgages that have a so-called “pre-mover” flag, like a settlement date, close within 30 days 62.2% of the time, according to ATTOM’s data.
An index above 100 in a given market means an above-average ratio of homes will be sold there compared to the national average. ATTOM looked at 120 metropolitan areas that had at least 100,000 single-family homes and condos. Those that scored the highest combined affordable homes with access to jobs, said Daren Blomquist, senior vice president of ATTOM.
If you’re looking to buy in one of these markets, competition could be fierce. It may help to get pre-approved for a mortgage and to pull your credit to make sure there’s nothing on your report that will bog you down. See where you stand by checking a free credit report snapshot on Credit.com, and reviewing this list of the 15 areas with the highest Pre-Mover Housing Indices.
15. Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin
Pre-Mover Index: 165
Number of homes: 2.9 million
Average property value: $296,727
14. Manchester-Nashua, New Hampshire
Pre-Mover Index: 175
Number of homes: 121,883
Average property value: $361,833
13. Durham-Chapel Hill, North Carolina
Pre-Mover Index: 179
Number of homes: 146,469
Average property value: $279,327
12. Atlanta-Sandy Springs-Roswell, Georgia
Pre-Mover Index: 179
Number of homes: 1,962,184
Average property value: $248,786
11. Las Vegas-Henderson-Paradise, Nevada
Pre-Mover Index: 180
Number of homes: 683,448
Average property value: $249,214
10. Nashville-Davidson-Murfreesboro-Franklin, Tennessee
Pre-Mover Index: 190
Number of homes: 614,297
Average property value: $271,580
9. Lancaster, Pennsylvania
Pre-Mover Index: 191
Number of homes: 147,076
Average property value: $167,674
8. Orlando-Kissimmee-Sanford, Florida
Pre-Mover Index: 194
Number of homes: 738,302
Average property value: $246,020
7. Jacksonville, Florida
Pre-Mover Index: 196
Number of homes: 490,967
Average property value: $198,053
6. Lexington-Fayette, Kentucky
Pre-Mover Index: 208
Number of homes: 115,422
Average property value: $214,785
5. Washington-Arlington-Alexandria, District of Columbia-Virginia-Maryland-West Virginia
Pre-Mover Index: 209
Number of homes: 1,840,922
Average property value: $486,711
4. Tampa-St. Petersburg-Clearwater, Florida
Pre-Mover Index: 209
Number of homes: 1,041,157
Average property value: $229,571
3. Raleigh, North Carolina
Pre-Mover Index: 225
Number of homes: 386,744
Average property value: $235,513
2. Charleston-North Charleston, South Carolina
Pre-Mover Index: 225
Number of homes: 230,381
Average property value: $359,157
1. Colorado Springs, Colorado
Pre-Mover Index: 251
Number of Homes: 218,034
Average Property Value: $263,960
Image:Â PortraÂ
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