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Hottest real estate markets in 2024 · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good evening, Los Angeles.
• 0:02
  SPEAKER_00: I'm Connor with honor bringing you the latest real estate news from the greater Los Angeles area, where I'm headquartered here in Santa Clarita, California.
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  SPEAKER_00: Today our focus is on the unexpected start of the 2024 housing market.
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  SPEAKER_00: While we soak up the California sun, the spotlight moves to Buffalo, New York, one of the snowiest cities in the United States.
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  SPEAKER_00: Zillow's latest report names Buffalo as the hottest housing market this year.
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  SPEAKER_00: Zillow examined the top 50 U.S.
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  SPEAKER_00: metro areas, considering factors like home value appreciation, job availability, and the pace of home sales.
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  SPEAKER_00: Buffalo claimed the top spot due to its affordable housing and thriving job market.
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  SPEAKER_00: A home in Buffalo average is$248,445, well below the national average of$347,415, with just a 5% down payment.
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  SPEAKER_00: That's a manageable$1,792 per month for your mortgage.
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  SPEAKER_00: Vienna Lorendi, president of the Buffalo Niagara Association of Realtors, states, although our temperatures are cold, our market is not.
• 1:07
  SPEAKER_00: Buffalo's strong job prospects and federal technology hub designation contribute to its real estate surge.
• 1:14
  SPEAKER_00: Buffalo is not just about snow, it's receiving billions and federal funding to become a semiconductor manufacturing hub.
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  SPEAKER_00: The Buffalo Billion Initiative and its status as a college town are driving economic revitalization.
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  SPEAKER_00: Vienna Lorendi highlights the ample opportunity for new homes in Buffalo.
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  SPEAKER_00: Underutilized land and older infrastructure presented Canvas for developers to create something extraordinary.
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  SPEAKER_00: Now let's shift our focus onto other hard housing markets of 2024.
• 1:44
  SPEAKER_00: Midwestern cities like Cincinnati, Columbus, and Indianapolis secured spots on Zillow's list due to affordable homes and rising owner-occupied households.
• 1:54
  SPEAKER_00: Cheaper markets in the Midwest are giving young people a real shot at buying, says Arnoushka Prakesh, a data scientist for Zillow Economic Research.
• 2:03
  SPEAKER_00: Midwestern cities have been dominating real estate lists due to their affordability and slower pace of life.
• 2:12
  SPEAKER_00: Buyers are making a comeback.
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  SPEAKER_00: As that concludes our coverage of the hottest real estate markets for 2024.
• 2:18
  SPEAKER_00: For Connor with Honor Real Estate, this is Connor.
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  SPEAKER_00: I'm signing off.
• 2:22
  SPEAKER_00: Stay tuned for more updates on the dynamic market, which is Los Angeles and Santa Clarita Real Estate.