Zillow update rates 250 housing markets as buyer’s or seller’s markets

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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.

Greater 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 = 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 under = sturdy purchaser’s market

Nationally, Zillow charges the U.S. housing market at 52 in its August 2025 studying, revealed 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 essentially the most energy:

1. Rochester, New York → 153
2. Buffalo, New York → 107
3. Hartford, Connecticut → 90
4. Syracuse, New York → 90
5. Albany, New York → 82
6. Charleston, West Virginia → 81
7. Poughkeepsie, New York → 80
8. San Francisco → 79
9. Norwich, Connecticut → 79
10. Binghamton, New York → 76
11. New York Metropolis → 74
12. San Jose, California → 74
13. Bridgeport, Connecticut → 74
14. Springfield, Massachusetts → 73
15. Canton, Ohio → 73
16. Kingston, New York → 73
17. Windfall, Rhode Island → 72
18. Lansing, Michigan → 71
19. Manchester, New Hampshire → 71
20. Boston → 70

Among the many 250 largest metro-area housing markets, these 20 are the COLDEST markets, the place patrons have essentially the most energy:

1. Jackson, Tennessee → 8
2. Terre Haute, Indiana → 10
3. Macon, Georgia → 20
4. Lafayette, Indiana → 21
5. Florence, South Carolina → 22
6. Gulfport, Mississippi → 25
7. Longview, Texas → 27
8. Beaumont, Texas → 29
9. Brownsville, Texas → 30
10. Naples, Florida → 30
11. Lubbock, Texas → 30
12. Asheville, North Carolina → 31
13. Waco, Texas → 31
14. Daphne, Alabama → 31
15. Panama Metropolis, Florida → 31
16. Hickory, North Carolina → 32
17. Bowling Inexperienced, Kentucky → 33
18. Gainesville, Florida → 34
19. Punta Gorda, Florida → 34
20. McAllen, Texas → 35

Does ResiClub agree with Zillow’s evaluation?

Directionally, I imagine Zillow has accurately recognized many regional housing markets the place patrons have gained essentially the most energy—notably across the Gulf—in addition to markets the place sellers have maintained (comparatively talking) considerably of a grip, together with giant parts of the Northeast and Midwest.

Primarily based on my private housing evaluation, I contemplate 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 a much bigger buildup in resale stock and unsold new-build spec stock.

For my part, many West Coast markets are softer proper now than Zillow’s evaluation suggests, particularly the areas which have not too long ago seen large jumps in lively stock on the market.

What did this Zillow evaluation appear like again in spring 2021 through the Pandemic Housing Increase? Under is Zillow’s August 2021 studying—revealed in September 2021.