Cape Coral, Florida Is the Hottest Buyer's Market in the U.S. 🏡

What We're Showing

The top 10 buyer and seller's markets in the U.S., as of Jan. 4, 2024.

Rankings are based on Zillow’s Market Heat Index, which measures housing market competition. The index ranges from 0 to 100, with higher values favoring sellers and lower values favoring buyers.

The index looks at user engagement on Zillow’s active home listings, the share of listings with a price cut, and the share of for-sale listings going pending in 21 days.

Seller's Markets: Housing demand exceeds supply, giving sellers more negotiating power, leading to higher prices

Buyer's Markets: Housing supply exceeds demand, giving buyers more negotiating power, leading to lower prices

Key Takeaways

Florida dominates the buyer’s market, with five of the top ten cities having low Market Heat Index scores.
New York state cities, including Rochester, Buffalo, and Syracuse, make up a significant portion of the hottest seller’s markets, suggesting strong demand and higher prices in these cities.
San Francisco and San Jose continue to be highly competitive markets with strong demand and limited inventory.