Buffalo Tops 2024 Hottest Housing Market Forecast With Affordability Driving Demand
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Buffalo, NY tops Zillow's 2024 list of hottest housing markets, with 7 cities entering the top 10 that weren't on last year's list.
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Affordable housing is a key factor, with Buffalo having the 2nd most affordable average mortgage payment on the top 10 list.
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60-69 year old Baby Boomers and 28-43 year old Millennials are two of the most active homebuyer demographics.
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11.2 million Americans 65+ spent 30%+ of income on housing costs in 2021, so affordability is top of mind.
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Zillow ranks markets by forecasted home value growth, sales velocity, jobs/new homes ratio, and homeowner rates using public data and surveys.