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Realtor.com® Ranks the Hottest ZIP Codes for 2016

Millennials are a key factor turning up the heat in America's hottest housing markets, says a new report from realtor.com®.

Fueled by large populations of millennials attracted to affordable prices and strong job markets, top ZIP codes, led by Watuaga, Texas (76148) and Pleasant Hill, Calif. (94523), are rising above 32,000 others to make up realtor.com®'s hottest ZIP codes of 2016.

Realtor.com® is a leading online real-estate destination operated by News Corp subsidiary Move, Inc.

The top 10 ZIP codes include:

76148 (Watauga, Texas) a suburb of Fort Worth;
94523 (Pleasant Hill, Calif.);
80233 (Northglenn, Colo.) part of the Denver metro;
80916 (Colorado Springs, Colo.);
78247 (San Antonio);
94954 (Petaluma, Calif.);
02176 (Melrose, Mass.);
63126 (Crestwood, Mo.);
97222 (Milwaukie, Ore.) a suburb of Portland
92104 (North Park, Calif.) a town in San Diego.

Realtor.com® ranked the list based on the time it takes properties to sell and how frequently homes are viewed in each ZIP code. Homes in this year's top 20 hottest markets sell in an average of 25 days — just over three weeks — 53 days faster than the rest of the country.

Realtor.com® users view homes in these markets almost four times more often than homes in the rest of the country.

The 2016 hottest ZIP codes report underscores the role that large populations of millennials, the ability to purchase within expensive housing markets, as well as strong job markets and steady salaries play in the interest shown for these highly competitive locales.

"Homes for sale in this year's hottest ZIP codes are selling almost as quickly as they hit the market," said Jonathan Smoke, chief economist for realtor.com®.

"While millennials are usually a significant presence in most markets, their sheer size and buying power have made them a force to be reckoned with in these hot ZIP codes and given them the power to shift supply and demand dynamics," Smoke said.

Taken from the California Association of Realtors®

Alec Bruice is a licensed real estate broker with Santa Barbara Brokers and the 2016 president of the Santa Barbara Association of Realtors. Contact him at [email protected] or 805.637.5774. The opinions expressed are his own.

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