Experts Say These 10 Housing Markets Will Boom in 2024

Where is the nation’s housing market headed? No one can say for sure, of course. But experts are predicting that some markets will boom in the new year.

Recently, Realtor.com looked at the 100 largest U.S. metropolitan areas and found 10 that are expected to do exceptionally well in 2024.

The conclusions were based on projected year-over-year increases in existing-home sale prices and the number of existing-home sales.

In a blog post, Danielle Hale — Realtor.com chief economist — notes that the markets on the list typically “have been more steady” in recent years than other U.S. markets:

“They haven’t seen the big price and sales booms we’ve seen in other parts of the country, which helps them to stand out now.”

Here are the markets where housing is expected to heat up in 2024.

1. Toledo, Ohio

Projected changes for existing homes in this metropolitan area in 2024:

• Median home sale price: 8.3% increase year over year
• Number of home sales: 14% increase year over year

Toledo is known as the “Glass City” because of its long history with the glass industry. Check out some beautiful examples of glass at the Toledo Museum of Art.

2. Oxnard-Thousand Oaks-Ventura, California

Projected changes for existing homes in this metropolitan area in 2024:

• Median home sale price: 3.3% increase year over year
• Number of home sales: 18% increase year over year

Car buffs should check out Oxnard, which is renowned for auto museums and cruise nights. The city is also the jumping-off point for those who want to visit Channel Islands National Park.

3. Rochester, New York

Projected changes for existing homes in this metropolitan area in 2024:

• Median home sale price: 10.4% increase year over year
• Number of home sales: 6.2% increase year over year

Homes in Rochester are affordable, and the city is within a day’s drive of major metropolitan areas such as New York City, Boston and Toronto. The city is also one of the nation’s snowiest.

The rest of the top 10

Here are the other housing markets that Realtor.com expects to boom in 2024, along with projections for each market.

• San Diego-Chula Vista-Carlsbad, California: 5.4% increase in the median home sale price, 11% increase in the number of home sales
• Riverside-San Bernardino-Ontario, California: 2% increase in price, 13.8% increase in sales
• Bakersfield, California: 2.3% increase in price, 13.4% increase in sales
• Springfield, Massachusetts: 4.2% increase in price, 10.5% increase in sales
• Worcester, Massachusetts-Connecticut: 4.8% increase in price, 9.1% increase in sales
• Grand Rapids-Kentwood, Michigan: 7.2% increase in price, 6.1% increase in sales
• Los Angeles-Long Beach-Anaheim, California: 3.5% increase in price, 9.2% increase in sales

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