Buying a house in today’s housing market isn’t easy as asking prices are only getting higher, and mortgage rates continue to fluctuate.
But despite those factors, some metro areas across the United States are actually friendly to those looking to buy this year. This month, Realtor.com released its report on the easiest and hardest housing markets for homebuyers right now.
The report defines the easiest places as those where buyers have more power and the hardest as places where buyers lack that leverage. To rank the metro areas, Realtor.com looked at the following metrics for the 200 largest in the U.S.:
- Year-over-year shift in median list price
- Year-over-year shift in the share of listings that saw price reduction
- Year-over-year shift in active listing count
- Median days on the market
- Change in active listings levels between July 2019 and July 2024
Florida’s housing markets reigned supreme in Realtor.com’s report, with nine out of the top 10 in the Sunshine State.
“Buyers in the easiest markets tend to be relatively slow-moving as supply outpaces demand,” Hannah Jones, Realtor.com’s economist, stated in the report. “Many of these markets saw prices and competition climb significantly during the early days of the [covid-19] pandemic, but the combination of high prices and climbing mortgage rates tempered demand, leading to building inventory.”
Buyers have the most power in: Lubbock, Texas
Median home list price: $253,500
Median days on the market: 55
Lubbock, Texas, is ranked as the metro area where buyers have the most power.
Jones states that because there were 80% more homes for sale in the Texas city than a year before, properties are sitting longer on the market, which is a good thing for buyers.
“In response, eager sellers have brought prices down, suggesting that buyers are in a good position to negotiate,” Jones says.
Lubbock, Texas
Davel5957 | E+ | Getty Images
Lubbock is located in the heart of West Texas. It is known as “The Hub City” because of its rich cotton farming industry.
The city is also known for its rich musical heritage, especially in country and rock music. Lubbock, Texas, is home to Buddy Holly and Mac Davis.
10 U.S. housing markets where buyers have the most power right now
- Lubbock, Texas
- Punta Gorda, Fla.
- Lakeland, Fla.
- Crestview, Fla.
- Tampa, Fla.
- North Port, Fla.
- Miami, Fla.
- Port St. Lucie, Fla.
- Gainesville, Fla.
- Orlando, Fla.
Punta Gorda, Florida, is ranked as the No. 2 housing market where buyers have the most power right now. The median home list price is $425,000, and the median days on the market are 90, according to Realtor.com’s report.
The analysis also says Punta Gorda is one of the cities in Florida experiencing “price corrections after overheating during the pandemic housing boom.”
Punta Gorda, Florida
Jeff Greenberg | Universal Images Group | Getty Images
Punta Gorda, Florida, or “Fat Point” in Spanish, gets its name because it sits as a fat point jutting out into one of the U.S.’s largest natural harbors, Charlotte Harbor.
Punta Gorda is centrally located between Sarasota and Fort Myers. It is also less than a three-hour drive from Tampa, Orlando, and Miami.
The Florida city is known as one of the top sport-fishing destinations, according to the Visit Florida website. Because it is situated along the Peace River where it meets Charlotte Harbor, Punta Gorda is also known for water recreation, including sailing and yachting.
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