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