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24/7 Wall St.: American Cities Where Homes Sell Fastest

4. Fresno, Calif.

Average no. of days on market: 43
Median home price: $174,900 (58th lowest)
Population: 930,450 (62nd highest)

Fresno has many similarities to Bakersfield. The median home price of $174,900 recorded in June is far lower than other California cities such as San Francisco and San Jose, but it is up 10% from a year earlier. Similar to Bakersfield, the 2,237 houses on the market are nearly half (49.1%) the number that were available last year. The 43 days on the market is a drop of 14% compared to a year ago. The economy in Fresno continues to be weak. About 1.8% of the houses in the area are in foreclosure, second only to Phoenix on this list. The unemployment rate of 15.54% is the highest on our list and the second highest of all metropolitan areas surveyed. Meanwhile, the median income is $52,900 as of June, or $46,600 less than San Jose.

More From 24/7 Wall St.:
Fastest-Growing Cities in America
America's Sickest Housing Markets
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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