When you’re choosing your next investment project, the hotter the market, the better. Whether your exit strategy is to fix and flip or buy and hold, strong housing demand is key.
In 2024, it looks like waterfront living is high on everyone’s bucket list. According to the folks at Zillow, markets in close proximity to the Atlantic Ocean or large lakes are hitting a sweet spot among potential buyers.
Some of the hottest markets are short-listed below:
1️⃣ Buffalo, NY
2️⃣ Cincinnati, OH
3️⃣ Columbus, OH
4️⃣ Indianapolis, IN
5️⃣ Providence, RI
What makes these markets hot?
To come up with the list of hottest markets, Zillow analyzed the 50 largest U.S. metro areas for the following:
- expected home value appreciation from Dec 2023 thru Nov 2024
- anticipated change in home value appreciation from 2023
- new jobs per new housing unit permitted
- estimate of the net new number of households that own their home
- the speed at which homes are sold
These markets are poised to stand strong this year. With the national market still rebounding from the low inventory, high mortgage rates, and home prices that marked 2023, it pays to be picky.
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