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January's hottest real estate [Video]

Posted on Monday, February 8, 2016 at 12:34:38 PM

East Coast homebuyers and sellers managed to avoid snowstorms and frigid temperatures for as long as possible, but following an unseasonably mild December, winter returned with a vengeance in January. While most real estate markets remained in winter hibernation, some proved as popular and active as ever. 

It comes as no big surprise that in Realtor.com's list of the hottest real estate markets, San Francisco once again finds itself at No. 1. California has proven to be absolutely dominant, boasting 7 of the top 10 markets.

Florida, however, is shrinking the gap. As 2016 progresses, and homeowners there continue to utilize residential financing options, Florida could very well surpass California as the hottest state for housing. 

Outside of those two states, January's solid real estate performance is encouraging for the nation as a whole. 

"Our initial readings on January affirm the positive growth we expect to see in the residential real estate market in 2016," said Jonathan Smoke, chief economist of Realtor.com.

"Our traffic, searches and listing views exhibited the January 'pop' we saw last year, which made for a strong spring," Smoke continued. "In addition, a large number of prospective buyers have been telling us since the second half of 2015 that they plan to purchase in the spring and summer of 2016."