12 hottest housing markets of summer 2018

With the housing market facing a severe shortage of inventory nationwide, house hunters are snapping up the relatively few properties that are hitting the market.

A reliable predictor of upcoming home sales is the timing and frequency of mortgage applications in a market. Understanding the pace of this activity is helpful for loan officers, real estate agents, home improvement stores and other aspects of a local economy that benefit from these transactions.

With that in mind, here's a look at this summer's 12 hottest housing markets. The rankings are based on the Attom Data Solutions Pre-Mover Housing Index, which analyzes the volume of loan applications in a market to identify how many residential properties are about to be sold.

A value of 100 reflects the national average, with a reading over 100 indicating above-average mortgage application activity in that market. Percent differences reflect year-over-year changes.

NMN081518-Wilmington-NC
Wilmington, N.C.
Pre-Mover Housing Index: 206 (-26%)
Total single-family and condo housing inventory: 100,401
Median home price: $ 259,804 (0%)
NMN081618-colorado-springs
Colorado Springs, Colo.
Pre-Mover Housing Index: 178 (-27%)
Total single-family and condo housing inventory: 224,812
Median home price: $282,370 (3%)
NMN113017-manchester.jpg
Manchester, N.H.
Pre-Mover Housing Index: 172 (12%)
Total single-family and condo housing inventory: 122,265
Median home price: $263,293 (1%)
3-chicago.jpg
Chicago, Ill.
Pre-Mover Housing Index: 168 (-30%)
Total single-family and condo housing inventory: 2,908,095
Median home price: $253,502 (-21%)
NMN053018-washington.jpeg
Washington, D.C.
Pre-Mover Housing Index: 166 (-23%)
Total single-family and condo housing inventory: 1,857,184
Median home price: $473,957 (4%)
NMN081518-Charleston-SC
Charleston, S.C.
Pre-Mover Housing Index:137 (-24%)
Total single-family and condo housing inventory: 232,889
Median home price: $322,956 (9%)
Orlando, Fla.
Orlando, Fla.
Pre-Mover Housing Index: 136 (-17%)
Total single-family and condo housing inventory: 750,656
Median home price: $258,266 (15%)
13-jacksonville.jpg
Jacksonville, Fla.
Pre-Mover Housing Index: 136 (-27%)
Total single-family and condo housing inventory: 499,446
Median home price: $252,262 (28%)
6-tampa.jpg
Tampa, Fla.
Pre-Mover Housing Index: 133 (-32%)
Total single-family and condo housing inventory:1,050,872
Median home price: $264,958 (-14%)
Madison, Wis.
Madison, Wis.
Pre-Mover Housing Index: 129 (-14%)
Total single-family and condo housing inventory: 208,359
Median home price: $264,958 (-9%)
NMN012418-lakeland.jpg
Lakeland, Fla.
Pre-Mover Housing Index: 126 (-22%)
Total single-family and condo housing inventory: 186,856
Median home price: $209,513 (9%)
NMN082018-el-paso-texas
El Paso, Texas
Pre-Mover Housing Index: 126 (-22%)
Total single-family and condo housing inventory: 186,856
Median home price: $209,513 (9%)
MORE FROM NATIONAL MORTGAGE NEWS