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NWS News Corporation

31.30
0.28 (0.90%)
24 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
News Corporation NASDAQ:NWS NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.28 0.90% 31.30 30.88 31.72 31.31 31.03 31.15 429,819 22:00:00

Realtor.com® Forecasts the Top Housing Markets for 2025

10/12/2024 11:00am

PR Newswire (US)


News (NASDAQ:NWS)
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From Nov 2024 to Dec 2024

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  • Sunny sales growth, ample inventory, and relative affordability fuel market momentum in the South and West
  • Colorado Springs, Colo., Miami, and Virginia Beach, Va., take top spots in annual ranking

SANTA CLARA, Calif., Dec. 10, 2024 /PRNewswire/ -- Realtor.com® today revealed its Top Housing Markets for 2025, showcasing areas that are primed and ready for growth in the year ahead. This year's list highlights markets characterized by moderately affordable homes, abundant inventory – mainly boosted by new construction – and a sizable base of younger families, many with military and international connections.

The top 10 markets for 2025 are exclusively in the South and West. In rank order, they are: 1) Colorado Springs, Colo.; 2) Miami-Fort Lauderdale-Pompano Beach, Fla.; 3) Virginia Beach-Norfolk-Newport News, Va.-N.C.; 4) El Paso, Texas; 5) Richmond, Va.; 6) Orlando-Kissimmee-Sanford, Fla.; 7) McAllen-Edinburg-Mission, Texas; 8) Phoenix-Mesa-Chandler, Ariz.; 9) Atlanta-Sandy Springs-Alpharetta, Ga.; 10) Greensboro-High Point, N.C. See the full top 100 metro ranking below.

"While nationwide home sales are expected to see a slight uptick this year, driven by a cooling in home price growth, the top markets we've identified are poised for stronger sales and price gains in 2025," said Danielle Hale, Chief Economist at Realtor.com®. "With mortgage rates likely to ease only modestly next year, these markets—offering relatively lower-priced homes, more new and existing houses to choose from, and mortgage products designed to give buyers a leg up—could provide some would-be buyers a better chance at entering the market next year."

Sun Belt Boom: South and West dominate top 10 list 
This year's top 10 are all located in the South and West, with multiple markets from three states – Texas, Florida and Virginia. While these areas generally offer lower home prices than the national average, incomes tend to be lower as well. As a result, housing affordability remains a challenge, with buyers spending about 31.1% of their income on housing—higher than the national average of 29.2%. However, seven of the top 10 markets offer a more affordable cost of living compared to the U.S. average, with McAllen, Texas leading as the most affordable, with living costs 13% below the national average. Miami stands out as the least affordable, with housing costs consuming 42.1% of income and a cost of living 11.5% above the U.S. average.

Along with slightly lower overall living costs, buyers in many of these markets may also benefit from flexible work arrangements; Realtor.com® research found many shoppers use flexible work options to navigate affordability challenges – a trend expected to continue. Half of the top markets, including Richmond, Va. (11.8%), Atlanta (10.8%), Phoenix (10.6%), Colorado Springs, Colo. (8.9%), and Orlando, Fla. (8.8%), report higher shares of remote or hybrid job postings in 2024 than the average across the top 100 metros (8.6%), according to WFH Data.

More homes, more choices: Both new and existing inventory up in top markets
While inventory remains a challenge nationwide, a recovery is underway, with the number of homes for sale in November notching the highest mark since December 2019. Despite those gains, the market still trails the November 2017–2019 average by 20%, with notable regional variation: the South and West are far closer to pre-pandemic levels than the Midwest and Northeast. Among the top 10 metros, eight have seen year-over-year growth in single-family home construction, with builders increasingly focusing on more affordable and smaller homes to meet demand. But new home construction is only part of the story – despite increased construction, new home listings have declined as a share of the market in eight of the top 10 markets as more existing homeowners return to selling and add to the uptick in homes for sale.

Top markets have younger, more diverse buyers with strong military, international ties 
The top 10 markets for 2025 are distinguished by their dynamic and diverse communities. Younger households are notably more common, with all but Miami having an above-average share of residents under age 35. These markets also have higher rates of families with children, with 28.8% of households including children compared to the national average of 26.5%.

Military connections are another defining characteristic—more than 1 in 7 households in the top markets are active-duty or veteran, exceeding the average of 1 in 8 across the 100 largest metros. Additionally, these communities have strong international ties, with 17.6% of residents being foreign-born, compared to an average of 13% in the largest metros. Miami leads with 42.7% foreign-born residents, and is joined by other Florida and Texas markets, which also have shares above 20%.

Unlocking homeownership: Government mortgages create opportunity in top markets
Lastly, given the prevalence of younger households and strong military connections, it's no surprise that government-backed lending options like VA, FHA, and USDA mortgages play a key role and are more prevalent among buyers in top markets, helping more households achieve homeownership with lower down payments and fueling the expected sales and price growth in 2025. More than half of recent mortgages were government loans in Colorado Springs, Colo., El Paso, Texas, and Virginia Beach, Va. because of high VA-loan usage. Almost three in four mortgage loans were government loans in El Paso, with 29.3% VA loans and 41.0% FHA loans. Combined with moderate price points in the top markets, these programs are helping make homeownership accessible to more families.

For more information about the 2025 Top Housing Markets, visit: www.realtor.com/topmarkets.

2025 Housing Forecast – 100 Largest U.S. Metros 
(Ranked by expected sale and price growth rates)

Rank

Cbsa Title

2025 Existing
Home Sale
Counts Year-
over-Year

2025 Existing
Home Sale
Counts vs 2017-
2019 Average

2025 Existing
Home Median
Sale Price Year-
over-Year

2025 Existing
Home Median
Sale Price vs
2017-2019
Average

Combined 2025
Existing Home
Sales and Price
Growth

1

Colorado Springs, CO

27.1 %

-5.6 %

12.7 %

88.9 %

39.8 %

2

Miami-Fort Lauderdale-Pompano Beach, FL

24.0 %

-0.7 %

9.0 %

100.5 %

33.0 %

3

Virginia Beach-Norfolk-Newport News, VA-NC

23.4 %

24.5 %

6.6 %

57.3 %

29.9 %

4

El Paso, TX

19.3 %

1.3 %

8.4 %

71.1 %

27.8 %

5

Richmond, VA

21.6 %

31.7 %

6.1 %

68.8 %

27.6 %

6

Orlando-Kissimmee-Sanford, FL

15.2 %

32.1 %

12.1 %

82.6 %

27.3 %

7

McAllen-Edinburg-Mission, TX

19.8 %

18.4 %

7.0 %

47.5 %

26.8 %

8

Phoenix-Mesa-Chandler, AZ

12.2 %

19.1 %

13.2 %

76.1 %

25.5 %

9

Atlanta-Sandy Springs-Alpharetta, GA

15.1 %

-7.7 %

10.2 %

51.9 %

25.3 %

10

Greensboro-High Point, NC

17.3 %

11.0 %

7.7 %

51.6 %

25.0 %

11

Tucson, AZ

12.5 %

0.1 %

12.4 %

40.3 %

24.8 %

12

Austin-Round Rock-Georgetown, TX

14.5 %

-7.4 %

10.2 %

89.1 %

24.7 %

13

Durham-Chapel Hill, NC

14.1 %

-7.8 %

10.1 %

102.0 %

24.2 %

14

Charlotte-Concord-Gastonia, NC-SC

15.7 %

-11.2 %

8.4 %

92.6 %

24.1 %

15

Little Rock-North Little Rock-Conway, AR

18.6 %

7.3 %

4.8 %

49.6 %

23.4 %

16

Jacksonville, FL

13.5 %

7.6 %

9.8 %

69.6 %

23.3 %

17

Cape Coral-Fort Myers, FL

13.2 %

5.7 %

9.6 %

64.2 %

22.8 %

18

Washington-Arlington-Alexandria, DC-VA-MD-WV

17.0 %

-7.9 %

5.0 %

94.1 %

22.0 %

19

Harrisburg-Carlisle, PA

16.8 %

-15.5 %

5.1 %

64.3 %

21.9 %

20

Denver-Aurora-Lakewood, CO

13.6 %

6.9 %

8.0 %

89.3 %

21.6 %

21

Lakeland-Winter Haven, FL

10.6 %

20.8 %

10.3 %

32.6 %

20.9 %

22

Tampa-St. Petersburg-Clearwater, FL

9.1 %

-3.4 %

11.8 %

98.7 %

20.9 %

23

Allentown-Bethlehem-Easton, PA-NJ

12.3 %

-16.2 %

8.0 %

97.7 %

20.4 %

24

Columbia, SC

12.1 %

-13.7 %

8.2 %

47.1 %

20.3 %

25

Riverside-San Bernardino-Ontario, CA

11.4 %

-1.6 %

8.8 %

82.5 %

20.2 %

26

Urban Honolulu, HI

13.4 %

-3.7 %

6.7 %

63.7 %

20.1 %

27

Augusta-Richmond County, GA-SC

14.2 %

-24.7 %

5.8 %

115.2 %

20.0 %

28

San Antonio-New Braunfels, TX

10.9 %

-28.5 %

9.1 %

80.7 %

20.0 %

29

Akron, OH

15.0 %

1.9 %

4.2 %

76.5 %

19.2 %

30

Seattle-Tacoma-Bellevue, WA

12.2 %

21.7 %

6.9 %

72.1 %

19.0 %

31

Baltimore-Columbia-Towson, MD

16.2 %

-16.0 %

2.7 %

78.8 %

18.9 %

32

Memphis, TN-MS-AR

8.3 %

-27.4 %

10.5 %

52.5 %

18.8 %

33

Deltona-Daytona Beach-Ormond Beach, FL

7.2 %

-61.2 %

11.5 %

65.7 %

18.7 %

34

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

12.3 %

-9.2 %

6.1 %

70.4 %

18.3 %

35

Buffalo-Cheektowaga, NY

9.7 %

-0.7 %

8.5 %

60.3 %

18.2 %

36

Springfield, MA

11.0 %

-0.8 %

6.8 %

47.2 %

17.8 %

37

Portland-Vancouver-Hillsboro, OR-WA

11.1 %

-2.6 %

6.7 %

100.4 %

17.8 %

38

Las Vegas-Henderson-Paradise, NV

5.5 %

-8.9 %

12.3 %

59.9 %

17.8 %

39

Toledo, OH

10.8 %

-5.0 %

6.7 %

51.2 %

17.5 %

40

Scranton--Wilkes-Barre, PA

11.6 %

-4.8 %

5.7 %

62.5 %

17.4 %

41

Albany-Schenectady-Troy, NY

10.3 %

-6.4 %

6.6 %

41.8 %

17.0 %

42

Winston-Salem, NC

7.7 %

-10.3 %

9.2 %

76.3 %

16.9 %

43

New York-Newark-Jersey City, NY-NJ-PA

11.0 %

-8.7 %

5.9 %

55.8 %

16.9 %

44

Chicago-Naperville-Elgin, IL-IN-WI

12.4 %

-16.9 %

4.5 %

114.7 %

16.8 %

45

St. Louis, MO-IL

9.7 %

-13.0 %

7.1 %

76.5 %

16.8 %

46

Dallas-Fort Worth-Arlington, TX

7.6 %

-5.3 %

9.2 %

53.0 %

16.7 %

47

Salt Lake City, UT

6.7 %

8.2 %

10.0 %

56.6 %

16.7 %

48

Oxnard-Thousand Oaks-Ventura, CA

8.2 %

-7.5 %

8.0 %

54.4 %

16.3 %

49

Stockton, CA

6.2 %

-27.1 %

9.8 %

59.7 %

16.1 %

50

Bakersfield, CA

9.9 %

-13.3 %

6.0 %

78.1 %

15.9 %

51

Indianapolis-Carmel-Anderson, IN

7.7 %

-19.1 %

8.2 %

71.3 %

15.9 %

52

Rochester, NY

8.7 %

-16.8 %

6.8 %

93.6 %

15.5 %

53

Cincinnati, OH-KY-IN

8.2 %

4.8 %

7.3 %

84.8 %

15.4 %

54

Lansing-East Lansing, MI

10.3 %

-8.7 %

4.9 %

65.4 %

15.2 %

55

Oklahoma City, OK

8.4 %

-6.1 %

6.6 %

57.8 %

15.0 %

56

Houston-The Woodlands-Sugar Land, TX

7.2 %

-13.1 %

7.3 %

101.9 %

14.5 %

57

Cleveland-Elyria, OH

9.4 %

-28.1 %

5.0 %

82.5 %

14.4 %

58

Boise City, ID

2.0 %

-11.2 %

12.3 %

58.1 %

14.4 %

59

Milwaukee-Waukesha, WI

8.6 %

-17.6 %

5.7 %

51.7 %

14.3 %

60

Sacramento-Roseville-Folsom, CA

5.2 %

-14.8 %

8.9 %

77.3 %

14.1 %

61

Greenville-Anderson, SC

5.1 %

4.3 %

8.9 %

97.8 %

14.1 %

62

Ogden-Clearfield, UT

2.2 %

-12.5 %

11.8 %

34.1 %

14.0 %

63

Kansas City, MO-KS

6.7 %

-24.9 %

6.9 %

91.9 %

13.6 %

64

North Port-Sarasota-Bradenton, FL

3.2 %

-28.1 %

10.4 %

63.7 %

13.5 %

65

Fresno, CA

8.1 %

-7.7 %

5.1 %

90.7 %

13.2 %

66

Charleston-North Charleston, SC

5.8 %

-19.7 %

7.0 %

46.2 %

12.8 %

67

Nashville-Davidson--Murfreesboro--Franklin, TN

4.5 %

-11.7 %

8.3 %

60.6 %

12.7 %

68

Minneapolis-St. Paul-Bloomington, MN-WI

6.3 %

-19.3 %

6.2 %

90.3 %

12.5 %

69

San Francisco-Oakland-Berkeley, CA

4.6 %

-23.6 %

7.5 %

62.0 %

12.1 %

70

Knoxville, TN

3.7 %

-22.2 %

8.3 %

88.0 %

12.0 %

71

Grand Rapids-Kentwood, MI

3.9 %

-21.4 %

7.7 %

65.3 %

11.6 %

72

Raleigh-Cary, NC

2.2 %

-11.0 %

9.0 %

114.9 %

11.2 %

73

Louisville/Jefferson County, KY-IN

4.6 %

-16.2 %

6.1 %

70.5 %

10.7 %

74

San Diego-Chula Vista-Carlsbad, CA

3.4 %

-27.5 %

7.3 %

74.3 %

10.7 %

75

Palm Bay-Melbourne-Titusville, FL

0.8 %

-15.7 %

9.6 %

102.7 %

10.4 %

76

Los Angeles-Long Beach-Anaheim, CA

4.2 %

-12.3 %

5.5 %

54.3 %

9.7 %

77

Hartford-East Hartford-Middletown, CT

3.8 %

-17.5 %

5.6 %

55.3 %

9.4 %

78

Wichita, KS

3.0 %

-3.2 %

6.2 %

63.9 %

9.2 %

79

Worcester, MA-CT

1.2 %

-8.1 %

8.0 %

66.8 %

9.2 %

80

Columbus, OH

3.4 %

-11.7 %

5.7 %

50.8 %

9.1 %

81

Tulsa, OK

2.5 %

-7.9 %

6.5 %

60.5 %

9.0 %

82

Detroit-Warren-Dearborn, MI

2.4 %

-31.3 %

6.2 %

96.7 %

8.6 %

83

Chattanooga, TN-GA

2.2 %

-16.2 %

6.3 %

99.9 %

8.5 %

84

Syracuse, NY

1.7 %

-1.7 %

6.7 %

90.3 %

8.4 %

85

Omaha-Council Bluffs, NE-IA

2.5 %

-35.4 %

5.8 %

96.1 %

8.3 %

86

Spokane-Spokane Valley, WA

-0.4 %

-2.1 %

8.7 %

49.3 %

8.2 %

87

Baton Rouge, LA

5.5 %

-9.1 %

2.7 %

73.4 %

8.2 %

88

Des Moines-West Des Moines, IA

2.7 %

-20.5 %

4.9 %

46.2 %

7.6 %

89

New Orleans-Metairie, LA

1.7 %

-27.5 %

5.9 %

82.8 %

7.5 %

90

Pittsburgh, PA

1.9 %

-22.5 %

4.7 %

92.9 %

6.6 %

91

Dayton-Kettering, OH

2.3 %

-42.2 %

4.3 %

103.1 %

6.6 %

92

Portland-South Portland, ME

-1.5 %

-6.4 %

6.1 %

86.0 %

4.6 %

93

Boston-Cambridge-Newton, MA-NH

-1.8 %

-30.9 %

5.6 %

59.1 %

3.8 %

94

New Haven-Milford, CT

-8.4 %

29.5 %

9.7 %

71.6 %

1.3 %

95

Bridgeport-Stamford-Norwalk, CT

-5.4 %

-26.8 %

4.9 %

57.9 %

-0.5 %

96

Madison, WI

-8.4 %

-25.0 %

5.5 %

37.8 %

-2.9 %

97

Birmingham-Hoover, AL

-8.3 %

-35.0 %

2.3 %

83.4 %

-6.0 %

98

San Jose-Sunnyvale-Santa Clara, CA

-10.3 %

-43.7 %

4.0 %

66.7 %

-6.3 %

99

Providence-Warwick, RI-MA

-14.7 %

-30.0 %

7.2 %

51.4 %

-7.5 %

100

Albuquerque, NM

-4.1 %

-48.0 %

-4.2 %

80.5 %

-8.3 %

Methodology
The Realtor.com® model-based forecast uses data on the housing market and overall economy to estimate 2025 values for these variables for the 100 largest U.S. metropolitan statistical areas by population size. These markets are then ranked by combined forecasted growth in home prices and sales. Results are calculated to three decimal places and ranked at this degree of specificity, there were no ties. For publication, results are rounded to one decimal place, and this can result in minor differences between the rounded and unrounded sums.

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media contact: Sara Wiskerchen, press@realtor.com

 

Cision View original content:https://www.prnewswire.com/news-releases/realtorcom-forecasts-the-top-housing-markets-for-2025-302327027.html

SOURCE Realtor.com

Copyright 2024 PR Newswire

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