These 10 Cities Are Predicted to Have the Most Home Sales in 2024, According to New Report

Alexandra Kelly
·2 min read
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If you're thinking of moving this year, these cities might be the place to be.

<p>Mike Kline / Getty</p>

Mike Kline / Getty

As people look to make changes in the new year, one of the biggest changes they might make is where they live. With rising costs across the board, affordability is top of mind for many who are looking to change locales. Falling mortgage interest rates are also fueling consumers' drive to purchase new homes in different areas.

Realtor.com recently analyzed data from the country's various housing markets and the broader economy to determine which markets are poised for sales growth in 2024. It then ranked the top 100 largest metropolitan markets by combined forecasted growth and home sales. The forthcoming results paint an interesting picture of where people might end up living this year.

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Top Housing Markets for 2024

  • Toledo, Ohio

  • Oxnard-Thousand Oaks-Ventura, California

  • Rochester, New York

  • San Diego-Chula Vista-Carlsbad, California

  • Riverside-San Bernardino-Ontario, California

  • Bakersfield, California

  • Springfield, Massachusetts

  • Worcester, Massachusetts

  • Grand Rapids-Kentwood, Michigan

  • Los Angeles-Long Beach-Anaheim, California

According to Realtor.com, the top 10 metro list can be split into two emerging trends—Midwestern and Northeastern markets that offer affordability in a very expensive housing market versus West Coast markets that took a large hit in 2023 with sky-high interest rates and are expected to rebound as interest rates fall.

The number one housing market that will see a predicted rise in sales growth is Toledo, Ohio, according to the site. Home prices in Toledo are a whopping 52 percent lower than the national median, making it an attractive location to get the most bang for your housing buck. The report also indicated that, except Worcester, all of these housing markets had median housing list prices below the national average.

In the Northeast and Midwest, many of these housing markets offer proximity to large urban centers but without the high cost of living that is associated with actually living in those urban centers. In the West, a gradual easing of mortgage interest rates to a predicted low of 6.5 percent at the end of 2024 is what will likely drive home sale growth—but the report notes that if inflation takes longer than expected to cool, causing interest rates to remain high or fall slower than expected, home sales in these regions might stagnate or decline.

Read the original article on Martha Stewart.