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Browse the siteDecember 04 2023
Home affordability has become a big problem in 2023, as buyers have grappled with high mortgage rates, high sales prices, and low inventory. There could be some relief around the corner, according to new data from Realtor.com; the company released its forecasted list of the top housing markets in the country that are "poised to see the strongest combined increase in home sales and listing prices in the coming year."
In other words, they're good places to be working in real estate!
Five of the top ten markets are in California. To conduct the analysis, Realtor.com examined forecasted 2024 existing home sales compared to 2023, forecasted 2024 existing home sales compared to averages in years 2017 through 2019, forecasted 2024 existing home sales median sales price compared to 2023, forecasted 2024 existing home sales median sales price compared to averages in years 2017 through 2019, and combined forecasted 2024 existing home sales and price growth.
So where will agents see opportunities to thrive in 2024? Here are the top forecasted markets for next year, according to the real estate data giant.
1. Toledo, Ohio
2. Oxnard et al, Calif.
3. Rochester, NY
4. San Diego et al, Calif.
5. Riverside, et al Calif.
6. Bakersfield, Calif.
7. Springfield, Mass.
8. Worcester, Mass.-Conn.
9. Grand Rapids et al, Mich.
10. Los Angeles et al, Calif.