Homebuyers in search of a hot housing market are being advised to shuffle off to Buffalo – Zillow (NASDAQ: Z, ZG) has named the upstate New York city as its hottest major housing market for 2025.
This is the second straight year that Zillow has praised Buffalo’s housing market potential, with the city being defined as having the most new jobs per new home permitted – Zillow stated this was a measure of expected demand, as new jobs often mean new residents, which can increase competition for property and drive up prices unless builders can match the additional demand.
“Construction that keeps pace with an area’s growth remains a crucial piece of keeping homes available and accessible,” said Skylar Olsen, Zillow chief economist. “In chilly Buffalo, competition among buyers will remain hot, with employment growing far faster than builders are adding homes. Shoppers nationwide should see more options for sale than in recent years, along with slow and steady price growth. That’s the good news. But both buyers and sellers should expect unpredictable mortgage rates.”
Rounding out Zillow’s top 10 markets for this year are Indianapolis; Providence, Rhode Island; Hartford, Connecticut; Philadelphia; St. Louis; Charlotte, North Carolina; Kansas City; Richmond, Virginia; and Salt Lake City.
