2 Hottest Housing Markets are in Illinois and They’re Not Chicago

This is more than a bit unexpected. If you had to find the hottest housing markets in America are, where would you look? Look no further than Illinois that has 2 of the top 30 housing markets in America and neither is near Chicago either.

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This is an interesting catch from 24/7 Wall St who shared a ranking from Realtor.com of the hottest housing markets in America using the most recent data from the end of 2023. How did they come up with the top 25 markets? The article says the methodology used was "a proprietary measure from Realtor.com that takes into account how long homes are on the market, as well as several measures of supply and demand dynamics".

Two Illinois cities are found in the top 30 hot housing markets in America and neither are anywhere near the Chicago area and its suburbs in case you're wondering. Springfield, Illinois comes in as the 25th hottest housing market in America and Peoria is listed as 15th. Impressive.

How did these two Illinois cities end up scoring so high for housing? The ranking says that the average house in Springfield is only on the market for 49 days while a home in Peoria is sold a day quicker at 48 days.

Both Springfield and Peoria are trending higher, too. The increase in housing interest in Peoria especially is up over 7% from last year alone.

It's not often these days that you hear Illinois mentioned in a positive way when it comes to housing. For Springfield and Peoria at least, the momentum is going the right direction according to this new data.