You can tell a lot about what buyers want by looking at the areas where they’re most active. After all, where there are buyers, there are likely going to be more of the types of homes, neighborhoods, amenities, and features that buyers desire. That’s one benefit of the most recent hottest ZIP code list from the National Association of Realtors’ consumer website. The annual list – which once again found locations in the Northeast and Midwest dominating the top 10 – also tells us a lot about what buyers want. Hannah Jones, senior economist at the site, says buyers aren’t only looking for the most affordable option. “This year’s hottest ZIP codes tell us buyers aren’t simply chasing the lowest price tag anymore – they’re chasing space, character, and a manageable commute to a major job center, and they’re willing to pay a premium to get it,” Jones said. In fact, nine of the top 10 hottest ZIP Codes on the list – which was topped this year by Peabody, Massachusetts – were more expensive than surrounding metros and eight of them had larger homes than the typical listing in their area. (source)
