Home search site Realtor.com gives us a list of the markets showing the biggest increase in searches on their site in July, versus the same month a year ago. It’s worth noting that these markets are among the hardest hit by the housing bust. Las Vegas, Miami, Naples, Sacramento. Realtor.com’s overall traffic is up 22% this year. These cities are seeing increases double or even quadruple that.
What this tells you is that a lot of people are starting to bottom-fish in these markets. Whether that leads to a bottom in housing prices remains to be seen.
Stockton-Lodi, CA 140.9%
Las Vegas, NV 93.9%
Riverside-San Bernardino, CA 86.3%
Oakland, CA 73.6%
San Jose, CA 71.4%
Fort Myers-Cape Coral, FL 69.5%
Naples, FL 66.2%
Sacramento, CA 65.0%
Orange County, CA 62.8%
Miami, FL 56.7%
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.