Realtor.com Offers Forecast For 2024's Top Housing Markets

WRE News December 6, 2023

Buyer

Realtor.com Offers Forecast For 2024's Top Housing Markets

Realtor.com has released its list of the 2024 Top Housing Markets, with California metros among five of the top 19 rankings.

According to Realtor.com, the markets poised to see the strongest combined increase in home sales and listing prices in the coming year are:

  • Toledo, Ohio
  • Oxnard-Thousand Oaks-Ventura, California
  • Rochester, New York
  • San Diego-Chula Vista-Carlsbad, California
  • Riverside-San Bernardino-Ontario, California
  • Bakersfield, California
  • Springfield, Massachusetts
  • Worcester, Massachusetts
  • Grand Rapids-Kentwood, Michigan
  • Los Angeles-Long Beach-Anaheim, California

Across the nation’s largest 100 metropolitan areas, Realtor.com is predicting sales price growth will outpace the national average in 2024, with median sales prices expected to rise by an average of 1.2% – in comparison, the nationwide average is expected to decline by 1.7%. Realtor.com added that home sales in the 100 biggest markets will decline an estimated 2.2%, while nationwide sales will inch up by a scant 0.1%.

“Now that we’re seeing the beginning of an affordability turnaround, home buyers are still looking for markets where they can capitalize on lower prices,” said Realtor.com Chief Economist Danielle Hale. “Even in some of the more expensive markets, we’ll see double-digit sales growth as sales start to rebound from their historic lows, helped by mortgage rates which are expected to finally relent.”


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