Ohio town ranked No. 1 U.S. housing market of 2024, Realtor.com says
When you think of the most desirable housing markets in the United States, you might consider Miami, San Diego, Austin, or somewhere similar.
But how about Toledo, Ohio?
Toledo is the number one U.S. real estate market of 2024, according to a report from Realtor.com. The Glass City took the top spot in Realtor.com’s 2024 top 10 housing market rankings, ranking ahead of five cities in California, two in Massachusetts, one in New York and one in Michigan.
The rankings compared the 100 largest metropolitan areas across the U.S. by three metrics: Median home listing price in November, forecasted 2024 home sales price change, and forecasted 2023 home sales change percentage.
Toledo boasts a median home list price of $200,000, which is well below the U.S. median home price of $420,000 in November, according to Realtor.com. In addition, Toledo homes have a forecasted 2024 sales price change of 8.3%, and a forecasted 2024 home sales change of 14%.
In its report, Realtor.com also notes that Toledo has seen an “an influx of new buyers in search of affordable homes,” with a number of buyers renovating homes before renting out those properties, despite some recent pullback as higher interest rates have led to to fewer mortgage applications.
“It’s less prone to the wild swings we’ve seen in other markets,” Realtor.com Chief Economist Danielle Hale said about Toledo. “The highs weren’t as high and the lows weren’t as low—so that’s one of the reasons they’re going to start to recover first.”
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The top 10 U.S. housing markets of 2024, according to Realtor.com, are:
1. Toledo, OH
2. Oxnard, CA
3. Rochester, NY
4. San Diego, CA
5. Riverside, CA
6. Bakersfield, CA
7. Springfield, MA
8. Worcester, MA
9. Grand Rapids, MI
10. Los Angeles, CA
Realtor.com’s full report on the top 10 U.S. housing markets of 2024 can be found online.
