The housing market has been a hot topic of conversation over the past two years, and the FRED Blog has discussed its cycles of sales and new construction, how fast houses sell, and state-level differences in prices and inventories. Today, we revisit the topic by exploring an evocatively named dataset: the hotness index.
Our first FRED map shows the July 2022 values of the market hotness index reported by Realtor.com. This index aims to reflect “fast moving supply and rising demand” conditions and does not necessarily represent high or rising housing prices. (See the source’s site for a description of the index.)
The data, available for selected counties, are color-coded in the map using a scale of cool blue-greens: darker equals hotter. At the time of this writing, two of the three hottest counties are less than an hour’s drive from each other in central Ohio. (Hovering over the map lets you see county names and hotness index scores.)