Buffalo, a city in far western New York and the second largest in the state, has emerged as the country’s hottest housing market for 2025, according toWith two new jobs created for every home built, Buffalo’s booming economy is drawing young families and professionals — but the city’s construction industry is struggling to keep up. In turn, home values in Buffalo are expected to climb another 3% this year, following a 6% jump in 2024.
The market frenzy has also spread to other Northeastern and Midwestern cities like Indianapolis, Providence, Hartford and Philadelphia, where Zillow projects prices will rise 3% to 4% in 2025.Toyota opens doors to $10B ‘City of the Future’ — and they’re recruiting residentsSpencer Pratt and Heidi Montag's ‘Hills’ home featured in a 2019 episode has been destroyed by the California wildfires The housing crunch is putting even more pressure on new construction to meet demand, but builders are falling behind, Skylar Olsen, Zillow’ s chief economist explained. “Areas like Buffalo and a lot of the Northeast are so locked in, and existing owners are just holding on,” Olsen explained. With a booming job market boasting two new jobs for every home permitted, Buffalo is luring young families in droves.“In many of these areas, construction has really struggled to keep pace,” Olsen told CNN. “The reason new construction is so important right now is that existing owners are locked in. That’s a lot of the determinant of pressure on prices.”Zillow predicts home prices will fall in several cities, including New Orleans, San Francisco, San Jose and Austin, where competition is less intense. “In less competitive markets, you have much longer to make your decision, homes spend longer on the market and there are more available,” Olsen said.Eureka unveils its newest J15 Max Ultra Robot Vacuum — Here's why it's worth itPick up a 4-pack of Apple AirTags at their lowest price ever today on AmazonTrump says Canada will face 'very serious tariffs' — and Gulf of Mexico will be renamed 'Gulf of America'Rudy Giuliani held in contempt of court for trying to 'run out the clock' on $148M owed to Georgia election workersTrump says Gov. Gavin 'Newscum' chose to save an extinct fish instead of sending water to Southern California to fight 'apocalyptic' wildfiresToyota opens doors to $10B ‘City of the Future’ -- and they’re recruiting residentsABC insiders ‘embarrassed and horrified’ over David Muir’s alleged ‘narcissistic’ fashion move while covering LA wildfire
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