"Construction that keeps pace with an area's growth remains a crucial piece of keeping homes available and accessible," Zillow's chief economist Skylar Olsen stated in a press release. "In chilly Buffalo, competition among buyers will remain hot, with employment growing far faster than builders are adding homes."
Buffalo, New York was at the top of the list, for the second year in a row. Zillow forecasts that the area will be the hottest housing market this year because of its lower-than-average home prices and strong home value growth.
The heat ranking takes local home value growth into account as well as how quickly homes are selling and job growth per new home. Buffalo also has the greatest number of new jobs per new homes permitted, which means it has the greatest expected demand for housing.
Second on the list is Indianapolis, Indiana. With a typical home value of $275,639 in 2024, Indianapolis stands out in terms of affordability, which Zillow predicts will attract prospective home buyers this year.
Collection
[
|
...
]