While it’s well known that California is home to some of the most competitive housing markets in the U.S., several North Carolina cities are also among the top real estate markets in the U.S. when it comes to competition among buyers. According to a study released by LendingTree, five North Carolina cities rank among the top 100 most competitive housing markets in the country.
LendingTree’s rankings of the 100 most competitive housing markets in the U.S. were based on factors that "truly create a competitive market for homebuyers," the company explained. To compile the rankings, LendingTree looked at factors like how many house hunters are putting more money down, have high credit scores and "start loan shopping before home shopping."
To come up with the rankings, LendingTree said it looked at 1.5 million purchase mortgage loan requests that came through the company’s marketplace in the 100 largest U.S. cities for 2017.
The cities were then ranked based on the following three criteria:
The share of buyers shopping for a mortgage before identifying the house they want Average down payment percentage Percentage of buyers who have prime credit (above 680)
The North Carolina cities with the most competitive housing markets are:
Average home buyers in Raleigh, Durham and Charlotte put down down payments of 15 percent, and with buyers in Greensboro and Winston-Salem putting down an average of 13 percent, according to the study.
Here are the top 10 most competitive housing markets in the country:
San Francisco, California (1)
San Jose, California (2)
Denver, Colorado (3)
San Diego, California (4)
Ventura, California (5)
Los Angeles, California (6)
Seattle, Washington (7)
Honolulu, Hawaii (8)
Portland, Oregon (9)
Sacramento, California (10)
Here are the least competitive or most accessible housing markets in the U.S.:
Youngstown, Ohio (100)
McAllen, Texas (99)
Scranton, Pennsylvania (98)
El Paso, Texas (97)
Dayton, Ohio (96)
Augusta, Georgia (95)
Birmingham, Alabama (94)
Winston-Salem, North Carolina (93)
Little Rock, Arkansas (92)
Harrisburg, Pennsylvania (91)
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