America's easiest and hardest housing markets revealed

Buying a home today presents significant challenges for many prospective buyers, who face high asking prices, steep mortgage rates, and intense competition from investors. However, the difficulty of purchasing a home varies greatly across different real estate markets in the United States.

Realtor.com conducted an analysis to identify the easiest and hardest housing markets for homebuyers among the 200 largest metro areas in the U.S. The study examined several metrics including year-over-year shifts in median list price, share of listings with price reductions, active listing count, median days on the market, and changes in active listing levels between July 2019 and July 2024.

In easier markets, buyers have more leverage due to an increase in available homes and slower or negative price growth. “Buyers in the easiest markets tend to be relatively slow-moving as supply outpaces demand,” says Realtor.com economist Hannah Jones. She notes that these markets saw significant price increases during the early days of the COVID-19 pandemic but now experience tempered demand due to high prices and climbing mortgage rates.

Florida dominates the list of easiest housing markets due to substantial growth in active listings and recent price corrections following an overheated pandemic housing boom. Cities like Punta Gorda have seen new construction coupled with constrained demand leading to longer periods homes remain on the market. Florida’s condo market has also softened significantly following new safety standards enacted after the Surfside condo collapse in 2021.

Lubbock, Texas is another notable easy market where there were 80% more homes for sale compared to a year prior as of July. This has led to longer times on market and lower prices as sellers become more eager.

The ten easiest housing markets identified are:

1. Lubbock, TX - Median list price: $253,500; Median days on market: 55

2. Punta Gorda, FL - Median list price: $425,000; Median days on market: 90

3. Lakeland, FL - Median list price: $349,900; Median days on market: 51

4. Crestview, FL - Median list price: $330,000; Median days on market: 55

5. Tampa, FL - Median list price: $460K; Median days on market: 54

6. North Port, FL - Median list price: $379,900; Median days on market: 83

7. Miami, FL - Median list price: $650K; Median days on market: 66

8. Port St Lucie., FL -Median List Price :$445K ;Median Days On Market :60

9.Gainesville.,FL-Median List Price:$324900 ;Median Days On Market :56

10.Orlando.,FL-Median List Price:$399000 ;Median Days On Market :54

Conversely,the hardest real estate markets are located primarily across Northeast & Midwest regions .These areas have remained resilient since pandemic's initial housing boom ,with continued rise even amidst deteriorating affordability nationwide .

"It remains challenging affording home much country funneled buyer activity into relatively low-priced areas," says Jones."As result these markets seen climbing demand competition driven higher."

Limited selection exacerbates issue within hardest metros.Active stock remains below pre-pandemic levels further contributing problem.Erie,Pennsylvania ranks number one hardest location experiencing declining inventory increased pricing pressure.Buyers flocked affordable resulting falling inventory snappy pace significant growth."While active listings climbed annually much country Erie saw counts fall" adds Jones.

Unlike Southwest Southeast counterparts lack building projects hinder supply-demand balance.Northeast Midwest face additional cooling effect due availability newer constructions elsewhere keeping resale stable competitive .

The ten hardest housing identified :

1.Erie PA-Median Home List Price:$198250 ;Median Days On Market :29

2.Syracuse NY-Median Home List Price:$198500 ;Median Days On Market :28

3.Rochester NY-Median Home List Price:$184900 ;Median Days On Market :21

4.Canton OH-Median Home List Price:$229000 ;Median Days On Market :23

5.Kalamazoo MI-Median Home List Price:$289900 ;Median Days On Market :31

6.Manchester NH-Median Home List Price:$417000 ;Median Days On Market :18

7.Norwich CT-Median Home List Price:$239900 ;Median Days On Market :28

8.Sioux Falls SD- Medain HomeListPrice369900MedainDaysOnMarket35 ;

9.Toledo OH- MedainHomeListPrice129900MedainDaysOnMarket27 ;

10.York PA- MedainHomeListPrice269900MedainDaysOnMarket27 ;