Homes in ‘Zoom Cities’ Sell in Less Than a Week
Such cities tend to be medium-sized metros, often near college towns. Riverview, Fla. was in the top 10 most competitive cities for homebuyers in July, says Redfin.
CHICAGO – Although the real estate market has shown some signs of cooling, there are some cities where buyer demand remains extremely high. Many of these places are nicknamed “Zoom cities,” which is a reference to the teleconferencing platform.
As remote work has grown during the pandemic, several of them saw an uptick in their real estate activity. Zoom cities tend to be medium-sized metro areas and often are near college towns.
The top 10 most competitive cities for home buyers in July, according to Redfin, were Littleton, Colorado; Aurora, Colorado; Tacoma, Washington; Spokane, Washington; Grand Rapids, Michigan; Sacramento, California; Omaha, Nebraska; Colorado Springs, Colorado; Riverview, Florida; and Denver, Colorado.
Source: Realtor Magazine (09/01/21)
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