The River City is on fire. No need to dial 9-1-1 — we mean the housing market. Richmond recently ranked No. 5 on U.S. News & World Report’s list of hottest housing markets in the US. Also on the list were Denver (No. 2), Phoenix (No. 4), Charlotte (No. 6), and Las Vegas (No. 12).
“What defines hot,” you ask? U.S. News & World Report describes a hot market as one “returning to the basics of healthy demand, supply and financing options.”
To determine which cities are hot (and which are not), U.S. News based its rankings on a scoring scale of 1-100 that examined metrics of housing supply, demand, and finance indicators.