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Zillow economists use an financial mannequin referred to as the Zillow Market Warmth Index to gauge the competitiveness of housing markets throughout the nation.
This mannequin appears at key indicators—together with home-price adjustments, stock ranges, and days available on the market—to generate a rating exhibiting whether or not a market favors sellers or patrons.
Increased scores level to hotter, seller-friendly metro housing markets. Decrease scores sign cooler markets the place patrons maintain extra negotiating energy.
In keeping with Zillow:
- Rating of 70 or above = robust 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 beneath = robust purchaser’s market
Nationally, Zillow charges the U.S. housing market at 52 in its August 2025 studying, printed this month.
That mentioned, 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 HOTTEST markets, the place sellers have probably the most energy:
- Rochester, New York → 153
- Buffalo, New York → 107
- Hartford, Connecticut → 90
- Syracuse, New York → 90
- Albany, New York → 82
- Charleston, West Virginia → 81
- Poughkeepsie, New York → 80
- San Francisco → 79
- Norwich, Connecticut → 79
- Binghamton, New York → 76
- New York Metropolis → 74
- San Jose, California → 74
- Bridgeport, Connecticut → 74
- Springfield, Massachusetts → 73
- Canton, Ohio → 73
- Kingston, New York → 73
- Windfall, Rhode Island → 72
- Lansing, Michigan → 71
- Manchester, New Hampshire → 71
- Boston → 70
Among the many 250 largest metro-area housing markets, these 20 are the COLDEST markets, the place patrons have probably the most energy:
- Jackson, Tennessee → 8
- Terre Haute, Indiana → 10
- Macon, Georgia → 20
- Lafayette, Indiana → 21
- Florence, South Carolina → 22
- Gulfport, Mississippi → 25
- Longview, Texas → 27
- Beaumont, Texas → 29
- Brownsville, Texas → 30
- Naples, Florida → 30
- Lubbock, Texas → 30
- Asheville, North Carolina → 31
- Waco, Texas → 31
- Daphne, Alabama → 31
- Panama Metropolis, Florida → 31
- Hickory, North Carolina → 32
- Bowling Inexperienced, Kentucky → 33
- Gainesville, Florida → 34
- Punta Gorda, Florida → 34
- McAllen, Texas → 35
Does ResiClub agree with Zillow’s evaluation?
Directionally, I consider Zillow has appropriately recognized many regional housing markets the place patrons have gained probably the most energy—significantly across the Gulf—in addition to markets the place sellers have maintained (comparatively talking) considerably of a grip, together with massive parts of the Northeast and Midwest.
Primarily based on my private housing evaluation, I take into account Southwest Florida the weakest/softest chunk of the U.S. housing market. Not too far behind are pockets of Texas, Colorado, and Arizona markets, which have additionally seen an even bigger buildup in resale stock and unsold new-build spec stock.
In my opinion, many West Coast markets are softer proper now than Zillow’s evaluation suggests, specifically the areas which have not too long ago seen massive jumps in energetic stock on the market.
What did this Zillow evaluation appear like again in spring 2021 in the course of the Pandemic Housing Increase? Under is Zillow’s August 2021 studying—printed in September 2021.
