Citing a favorable match-up between job growth and expected housing starts, Zillow predicts Buffalo, New York, will be the hottest major housing market in 2024. Cincinnati and Columbus, Ohio, will follow in the No. 2 and 3 spots, respectively, with the former experiencing fast-moving inventory and the latter showing a healthy increase in the number of owner-occupied households.
Data scientist Anushna Prakash at Zillow says that healthy job growth undergirds a strong—and accessible—housing market. “Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity,” she says.
Forecasters predict a tapering off of the record-high home prices and rental costs of 2023, allowing more activity in the market.
Photo: Getty Images/Ingenious Buddy
