Tampa Makes a Return to Zillow’s Hottest Market List
The US has 300+ cities with at least 100,000 residents. Of all those cities, Zillow’s research predicts Orlando and Tampa will be home to the 9th and 10th hottest housing markets of 2024, in that order. Tampa rose one spot from 2023.
In addition to number of residents, Zillow looks for markets that have strong demand for housing, steady home values, a growing number of homeowners and good job growth. Our projected 1.5% increase in home values contributed to Tampa’s rise.
But, thanks to high interest rates pricing many out of the market, and homeowners with super low interest rates being unwilling to sell, it’s expected to be another generally slow year. The synopsis for Tampa: Values continue to rise, inventory continues to be low, and interest rates keep a damper on activity.
New Orleans, San Antonio, Denver, Houston and Minneapolis are projected to be the coolest markets of 2024, with home prices expected to decline.
