Top Housing Markets In Spring 2024: Find Out If Yours Made The Cut

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Zinger Key Points
  • Amid the spring's busy housing market, some markets are excelling while others are lagging behind.
  • Manufacturing towns and Silicon Valley see highest home appreciation while Florida had a weak spring.
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The housing market has seen highs and lows since 2020. According to Lance Lambert of ResiClub Analytics, these are the markets that are surging and the markets that are showing signs of fading in today’s housing market.

The 10 Strongest Markets:

  • San Jose, California saw the strongest month-over-month appreciation in the U.S., with homes appreciating by 2.94%.
  • Bay Area neighbor San Francisco was the third-best market, good for a 2.41% price rise. This comes during Silicon Valley’s AI boom.

The rest of the top ten markets are centered in the Midwest or East Coast with a tendency to have a history in manufacturing:

  • Rochester, NY was the second-strongest, where homes appreciated by 2.48%
  • Scranton, PA was the fourth-strongest, where homes appreciated by 2.37%
  • Green Bay, WI was the fifth-strongest, where homes appreciated by 2.37%
  • Syracuse, NY was the sixth-strongest where homes appreciated by 2.26%
  • Youngstown, OH was the seventh-strongest where homes appreciated by 2.24%
  • Champaign, IL was the eighth-strongest, where homes appreciated by 2.18%
  • Saginaw, MI was the ninth-strongest where homes appreciated by 2.14%
  • Rockford, IL was the 10th-strongest where homes appreciated by 2.13%

Also Read: Dow Jones Hits 40,000, Chinese Tech Stocks Jump To 15-Month Highs, Bloodbath On Meme Stocks: What’s Driving Markets Thursday?

The 10 Weakest Markets: The 10 weakest markets have one shared characteristic: location. All ten are located in Florida. Florida has seen a large increase in housing inventory in the past year.

The market that saw the weakest month-over-month appreciation was Punta Gorda, FL, where home prices depreciated, dropping by 0.05%.

The remaining markets are as follows:

  • Panama City, FL where homes appreciated by 0.04%
  • North Port, FL where homes appreciated by 0.05%
  • Cape Coral, FL where homes appreciated by 0.07%
  • Naples, FL where homes appreciated by 0.09%
  • Port St. Lucie, FL where prices appreciated by 0.31%
  • Crestview, FL where prices appreciated by 0.38%
  • Ocala, FL where prices appreciated by 0.39%
  • Lakeland, FL where prices appreciated by 0.44%
  • Deltona, FL where prices appreciated by 0.51%.

Now Read: More Than A Third Of Gen Z, Millennials Lean On Family Support For Home Purchases: ‘Many Get Help From Mom And Dad,’ Reveals Redfin

Image: Pixabay

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Posted In: Top StoriesReal EstateFederal ReserveFloridaHousingHousing MarketInterest RatesMidwestStories That Matter
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