Which state has the strongest housing markets?

Despite low inventory stifling sales, buyer demand is still high – especially in California. According to the National Association of Realtors, more than half of the top 20 U.S. housing markets last month were in the Golden State. The only other state with more than two markets on the list was Colorado, which rated three – Denver, Boulder and Colorado Springs.

Last month saw list prices rise 1% to $230,000 nationally, according to the NAR. That’s an 8% spike over February of 2015.

“I would use the phrase ‘pent-up demand’ liberally – we’re seeing it come through in the marketplace,” said NAR chief economist Jonathan Smoke. “The people who didn’t buy last year were frustrated because they were outbid or couldn’t find a home that met their needs. So they more or less took the holidays off, and are back with way more intensity.”

NAR’s top 20 markets for February were viewed two to five times more often than the national average on realtor.com, and homes in those markets sold between 44 and 78 days more quickly than the national average.

NAR’s hottest markets

1. San Francisco, Calif.
2. San Jose, Calif.
3. Dallas, Texas
4. Denver, Colo.
5. Vallejo, Calif.
6. San Diego, Calif.
7. Santa Cruz, Calif.
8. Santa Rosa, Calif.
9. Stockton, Calif.
10. Oxnard, Calif.
11. Sacramento, Calif.
12. Los Angeles, Calif.
13. Modesto, Calif.
14. Boulder, Colo.
15. Eureka, Calif.
16. Portland, Ore.
17. Nashville, Tenn.
18. Colorado Springs, Colo.
19. Palm Bay, Fla.
20. Tampa, Fla.