Texas and Florida metros dominate the best places for buyers in Zillow’s new market heat index, securing seven of the top-10 spots. But most of the country’s 50 largest metros, and the U.S. at large, are in favor of sellers.
Nationwide, despite the popularity of price cuts and the surge of inventory coming on the market, there remains a desperate lack of homes on the market for buyers to choose from compared to pre-pandemic. So while the index is further in favor of buyers than any April since 2019, it’s still in seller’s territory.
See the latest breakdowns on April for-sale and rental April market trends.
A new metric that aims to capture the balance between housing supply and demand, Zillow’s market heat index takes into account the share of homes that go pending quickly — in 21 days or less — the share of homes with a price cut, and engagement on active Zillow listings in a market.
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