For both renters and buyers, housing costs reached record highs in 2023, but we may see some relief in the coming year, new research from Zillow suggests. The real estate site has just come out with their predictions for the hottest housing markets of 2024, and their top pick may surprise you.
- Zillow’s annual predictions for the top housing markets are based on factors including an analysis of expected home value growth, projected changes in the labor market, recent housing market velocity and home construction activity.
- Buffalo, New York, is expected to be the hottest housing market in the country in 2024.
- The Great Lakes, Midwest and South regions are at the top of Zillow’s rankings, thanks to affordability and job growth.
- Research shows that homes in these areas tend to go under contract faster than the national average.
- The hottest market for 2023, Charlotte, North Carolina, is still in demand, landing at number seven on this year’s list.
Zillow’s Hottest Housing Markets of 2024
- Buffalo, New York
- Cincinnati, Ohio
- Columbus, Ohio
- Indianapolis, Indiana
- Providence, Rhode Island
- Atlanta, Georgia
- Charlotte, North Carolina
- Cleveland, Ohio
- Orlando, Florida
- Tampa, Florida
Source: Zillow