CNBC is out with a list of the cities where houses are selling the fastest. It's the same old story as the places where the jobs are. It's mostly where newly printed Fed money is flowing: high tech areas, government sectors and oil.
10. (Tied) San Diego---Navy city
Median time to sell: 105 days
Zillow Home Value Index: $335,600
10. (Tied) Washington, D.C.---The heart of the government beast.
Median time to sell: 105 days
Zillow Home Value Index: $302,400
8. (Tied) Vallejo, Calif
Median time to sell: 104 days
Zillow Home Value Index: $186,700
8. (Tied) Santa Cruz, Calif.
Median time to sell: 104 days
Zillow Home Value Index: $451,800
6. (Tied) Austin, Texas---high tech
Median time to sell: 103 days
Zillow Home Value Index: $166,600
6. (Tied) Chico, Calif.
Median time to sell: 103 days
Zillow Home Value Index: $170,200
5. Santa Rosa, Calif.
Median time to sell: 99 days
Zillow Home Value Index: $316,400
4. Honolulu
Median time to sell: 92 days
Zillow Home Value Index: $484,300
3. San Francisco, Calif.--Silicon Valley money flowing up the coast
Median time to sell: 83 days
Zillow Home Value Index: $463,800
2. San Jose, Calif.--Silicon Valley, the heart of where private sector Fed money printing is flowing (via venture capital and IPOs)
Median time to sell: 81 days
1. Midland, Texas---The heart of oil country
Median time to sell: 71 days
Zillow Home Value Index: $154,400
Zillow Home Value Index: $545,500
I'd bet Santa Cruz, Vallejo, and Santa Rosa are on the list because they are also seeing FED money. Santa Cruz is Silicon Valley adjacent while Santa Rosa and Vallejo are with in easy commuting distance of SF.
ReplyDeleteEx money Ben is sending the dollars to Midland, Texas through oil. I know, I own several rental units and the rents are up 30% over the last year
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