10 Best Housing Markets in the U.S. for 2024

In December 2023, the housing market share in the United States was up to 3.6% compared to last year. 

This uptick signifies a significant trend in the real estate landscape, reflecting evolving consumer sentiments, economic conditions, and market dynamics.

Over the past couple of years, the housing market in the United States has encountered various challenges. However, there is a sense of optimism for the future, as indicated by the 2024 National Housing Forecast.

As we enter 2024, the quest for the best housing markets in the US intensifies. With easing mortgage rates and declining home prices, housing affordability is projected to improve.

10 Best Housing Markets in the U.S. for 2024

Amidst economic fluctuations and changing consumer preferences, identifying the most promising housing markets becomes paramount for prospective residents and investors alike.

Here are 10 top US housing markets for 2024 that are carefully curated based on various factors, including affordability, growth potential, economic stability, and quality of life. 

1. Toledo, Ohio

Toledo, Ohio become one of the best housing markets in the US as it offers blends of affordability and growth opportunities. 

Over the past year, the median sale price of homes in Toledo has surged by 29.7%, reaching $117K. 

Concurrently, the median sale price per square foot has notably increased by 6.4% to $83 compared to the previous year.

• Sales period: 42 days, a decrease from 47 days in the corresponding period last year.
• Sales volume: In December of the current year, 234 homes were sold, marking a decline from 264 homes sold during the same period last year.

2. Florida

The Florida housing market experienced a 5.0% increase in home prices year-over-year with the median price reaching $403,500. 

As of December 2023, the Florida housing market paints a nuanced picture and become another best housing markets to invest in. 

Sales volume: Despite this price increase, the number of homes sold witnessed a 3.5% decline year over year.

3. Oxnard-Thousand Oaks-Ventura, California

Ventura, California, is currently regarded as one of the top housing markets in the United States. 

As of December 2023, home prices in Ventura County experienced a notable uptick, rising by 6.5% compared to the previous year, with the median price reaching $815,000. 

• Sales period: Interestingly, homes in the area are selling more swiftly, spending an average of 44 days on the market, a decrease from 52 days recorded in the preceding year.
• Sales volume: Despite the accelerated pace of sales, there was a slight decrease in the total number of homes sold, with 395 transactions recorded in December compared to 422 in the corresponding period last year.

3. Rochester, New York

As of December 2023, Rochester's housing sector witnessed a commendable uptick in home prices, marking a 5.2% increase compared to the previous year. 

With a median selling price of $153,000, homes in Rochester reflect a sustained market demand amidst evolving economic conditions.

• Selling period: Properties in Rochester are now spending an average of 10 days on the market before being sold (13 days in the preceding year). 
• The volume of home sales: December 2023 recorded 191 homes sold, reflecting a modest decline from the 233 homes sold during the same period last year.

4. San Diego-Chula Vista-Carlsbad, California

Carlsbad California is one of the top housing markets in the United States characterized by its high level of competitiveness and robust activity. 

Recent data indicates a significant upward trend in home prices, with the median sale price reaching $1.7 million last month, marking a notable 29.0% increase compared to the previous year. 

• Selling period: On average, homes in Carlsbad sell within approximately 28 days, reflecting the city's desirability among buyers.
• The volume of home sales: Notably, there were 51 homes sold in December 2023, marking an increase from the 42 homes sold during the same period in the previous year.

5. Los Angeles-Long Beach-Anaheim, California

Anaheim's housing market presents a highly competitive landscape as one of the best housing markets in the US with robust demand and swift turnover.

The housing share has soared by 12.4% compared to the previous year, with properties commanding a median price of $866K. 

• Sales period: Housing in Anaheim is selling at an accelerated pace, spending an average of 41 days on the market, down from 52 days the previous year. 
• Sales volume: The number of homes sold in December 2023 is 96, which decreased compared to the previous year (109 homes).

Despite the slightly reduced sales volume, Anaheim remains vibrant and dynamic as one of the best housing markets in US.

6. Springfield, Mass.

The Springfield housing market remains highly competitive. As of the latest data, the median sale price for homes in Springfield stood at $279,000 last month, marking a notable increase of 7.1% compared to the previous year. 

• Sales period: 30 days on the market, compared to 29 days during the same period last year. This period indicates a consistent level of buyer interest and a healthy pace of transactions within the market.
• Sales volume: Springfield witnessed a total of 128 homes sold in December 2023, reflecting a slight uptick from the 126 homes sold in the previous year.

7. Bakersfield, California

As of December 2023, Bakersfield become one of the best real estate markets as it reflects notable shifts and continuities. 

Home prices in the area have experienced a modest increase, rising by 2.0% compared to the previous year. 

The median price for homes in Bakersfield stands at $385,000, indicating a steady appreciation in property values.

• Sales period: Properties in Bakersfield are selling at a slightly faster pace: 33 days, compared to 34 days during the same period last year. 
• Sales volume: The latest data indicates that 268 homes were sold during this period, marking a decrease from the 311 homes sold in December of the previous year.

8. Akron, OH

Akron is one of the top 10 meteors in the U.S. with the fastest growing sales price. Compared to the previous year, Akron's housing market demonstrates notable trends and shifts.

In December 2023, the median home prices in Akron were up by 5.5% from the previous year. This increase positions the median price of homes in Akron at $115,000.

• Sales period: Properties in Akron typically sell after 34 days, decreased by 39 days recorded the previous year. This reduction suggests a potential increase in demand or improved market conditions favoring quicker transactions.
• Sales volume: Akron witnessed a slight decline as there were 217 homes sold during December 2023, down from 234 homes sold in the same period last year.

9. Worcester, Mass.-Connecticut

Worcester's real estate market experienced a slight decline, with home prices decreasing by 3.6% compared to the previous year. 

It became one of the top US housing markets as the median price for homes in Worcester stood at $400,000. 

• Sales period: Interestingly, the average time homes spent on the market remained consistent, with properties typically selling within 21 days.
• Sales volume: Worcester remained relatively active, with 130 homes changing hands in 2023, a marginal decrease from the 135 sold in the previous year. 

10. Grand Rapids-Kentwood, Mich.

Are you curious about the state of Kentwood's housing market share and why it become one of the best housing markets in US?

As of December 2023, home prices in Kentwood experienced a slight decline, dipping by 0.83% with the median price for homes in Kentwood standing at $292,000. 

• Sales period: Notably, homes in this area are spending less time on the market, with an average selling duration of 15 days, down from 17 days the previous year. 
• Sales volume: There are 46 homes changing hands compared to 44 during the same period last year.

Why Midwestern and Northeastern Become The Top US Housing Markets?

According to the Housing Market Share Report by Realtor, Midwestern and Northeastern cities dominate the list as they offer more affordable housing compared to larger urban areas.

In fact, as of October 2023, all of these cities, except Worcester, Mass., had median listing prices below the national average.

For instance, although Worcester's prices were higher, they were still 41.8% lower than those in nearby Boston, where many people looking to move are from.

The report also mentions that Midwestern and Northeastern cities are less affected by higher mortgage rates because more homeowners in these areas own their homes outright, without a mortgage.

Attract Your Potential Buyers with SEO!

In today's competitive housing market, SEO can be a game-changer for real estate professionals, agents, and investors. 

With SEO, you can attract high-quality leads, establish authority, and drive conversions as a provider of the best housing markets in US.

Optimize your website, listings, and content with relevant keywords, location-based terms, and long-tail phrases with the help of professional and experienced SEO Services now!