These New England States Top ‘Hottest Markets' List as US Home Prices Soar

While many are flocking to sunnier coasts boarding the United States, others are traveling north and calling New England home.

Most of New England —Massachusetts, New Hampshire, Vermont, Maine and Connecticut — had cities that landed on Realtor.com’s top 20 hottest markets list.

The study found that affordability remains a major selling point for homebuyers – and for the list – as home prices and mortgage rates skyrocket across the nation.

“Affordability is the common thread running through the top states featured in May’s hottest housing markets list,” said the company’s manager of economic research George Ratiu. “With median home prices below the national mark, these states offer buyers significant value.”

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The average listing price for the list’s hottest markets in 16 states was $374,000 in May 2022, 16.3% lower than the national median.

The states that rounded out May's top 20 are Massachusetts, New Hampshire, Vermont, Maine, New York, Connecticut, Montana, North Carolina, Ohio, Tennessee, Wisconsin, and Indiana.

Manchester, New Hampshire, took the top spot on the list, while Burlington, Vermont, was listed at number two and Portland, Maine, landed at number three.

Massachusetts was also represented on the list with Springfield and Worchester coming in consecutively at numbers 12 and 13.

Realtor.com’s Market Hotness rankings weighed two aspects of the housing market: market demand and the market’s pace, which is measured by the number of days a listing remains active on it’s website.

Here’s how May’s top 20 hottest real estate markets in the U.S. lined up.

1. Manchester-Nashua, New Hampshire
2. Burlington-South Burlington, Vermont
3. Portland-South Portland, Maine
4. Concord, New Hampshire
5. La Crosse-Onalaska, Wisconsin-Minnesota
6. Burlington, North Carolina
7. Rochester, New York
8. Elkhart-Goshen, Indiana
9. Lafayette-West Lafayette, Indiana
10. Fort Wayne, Indiana
11. Columbus, Ohio
12. Springfield, Massachusetts
13. Worchester, Massachusetts-Connecticut
14. Hartford-West Harford-East Hartford, Connecticut
15. Billings, Montana
16. Norwich-New London, Connecticut
17. Kingsport-Bristol-Bristol, Tennessee-Virginia
18. New Haven-Milford, Connecticut
19. Claremont-Lebabon, New Hamphire-Vermont
20. Oshkosh-Neenah, Wisconsin

Click here to read more on Realtor.com's top 20 hottest markets list.