The state of California is home to 8 of the top 10 fastest-moving housing markets, according to a new report from Trulia. At least 70% of the homes in the Bay area were sold in two months or less. In Los Angeles and Orange County, nearly 60% of the homes on the market sold in less than two months. In San Diego, only 33% of the homes were still available after 60 days on the market.
“California has seen very strong job growth, especially in coastal markets,” said Ralph McLaughlin, housing economist at Trulia. “The amount of new housing that gets built is relatively small compared to other parts of the country.”