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Zillow economists use an financial mannequin generally known as the Zillow Market Warmth Index to gauge the competitiveness of housing markets throughout the nation.
This mannequin appears at key indicators—together with residence worth adjustments, stock ranges, and days available on the market—to generate a rating displaying whether or not a market favors sellers or consumers.
Greater scores level to hotter, seller-friendly metro housing markets. Decrease scores sign cooler markets the place consumers maintain extra negotiating energy.
In accordance with Zillow:
- Rating of 70 or greater = sturdy vendor’s market
- Rating from 55 to 69 = vendor’s market
- Rating from 44 to 55 = impartial market
- Rating from 28 to 44 = purchaser’s market
- Rating of 27 or decrease = sturdy purchaser’s market
Nationally, Zillow charges the U.S. housing market at 55 in spring 2026.
That stated, Zillow’s studying varies considerably throughout the nation.
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Among the many 250 largest metro-area housing markets, these 20 are the most popular markets, the place sellers have probably the most energy:
- Rochester, New York → 174
- Buffalo → 115
- Racine, Wisconsin → 109
- Syracuse, New York → 107
- San Francisco → 105
- Charleston, West Virginia → 103
- Manchester, New Hampshire → 96
- Hartford, Connecticut → 94
- San Jose → 90
- Albany, New York → 90
- Milwaukee → 87
- Bridgeport, Connecticut → 85
- Rochester, Minnesota → 84
- Poughkeepsie, New York → 81
- Madison, Wisconsin → 81
- Ann Arbor, Michigan → 81
- Boston → 80
- Grand Rapids, Michigan → 80
- Springfield, Massachusetts → 79
- Abilene, Texas → 79
Among the many 250 largest metro-area housing markets, these 20 are the coldest markets, the place consumers have probably the most energy:
- Macon, Georgia → 25
- Terre Haute, Indiana → 25
- Florence, South Carolina → 27
- Naples, Florida → 29
- Brownsville, Texas → 30
- Gulfport, Mississippi → 30
- Longview, Texas → 30
- Jackson, Tennessee → 34
- Fort Smith, Arkansas → 35
- Punta Gorda, Florida → 36
- McAllen, Texas → 37
- Cape Coral, Florida → 37
- Miami → 38
- Fayetteville, Arkansas → 38
- Asheville, NC → 38
- Laredo, Texas → 38
- Panama Metropolis, Florida → 38
- North Port, Florida → 39
- Port St. Lucie, Florida → 39
- Corpus Christi, Texas → 39
Does ResiClub agree with Zillow’s evaluation?
Directionally, ResiClub agrees with Zillow’s identification of regional housing markets the place consumers have gained probably the most leverage—significantly alongside the Gulf Coast—in addition to markets the place sellers have retained comparatively extra management, together with elements of the Northeast and Midwest.
That stated, whereas many Northeast and Midwest markets nonetheless tilt towards sellers in comparison with the remainder of the nation, ResiClub believes Zillow considerably overstates the diploma of vendor energy based mostly on different market indicators.
Based mostly on ResiClub’s housing evaluation, a lot of Florida (significantly Southwest Florida) and chunks of Texas (significantly areas with plenty of new single-family residence building) are the softest chunk of the U.S. housing market, the place consumers have probably the most energy. Not too far behind are pockets of Colorado, Georgia, and Arizona, the place homebuilders have been clearing some built-up unsold spec stock.
What did this Zillow evaluation appear like again in spring 2021, throughout the pandemic housing growth? Under is Zillow’s March 2021 studying—revealed in April 2021.
