It's not surprising to me': Zillow names Buffalo as the 'hottest' housing market for 2025

Also tonight, we all know Buffalo is among the coldest cities in the country, but did you know we may have one of the hottest housing markets? Yeah, for the second year in a row, real estate site Zillow has put the Queen City at the top of its list. Zillow based its hottest markets list on multiple factors here, including possible home value growth and home construction activity. But the report says Buffalo earned its top spot because of its growing labor market. Our city has the most new jobs per new home permit, so with new folks moving to our area, this can raise housing competition and prices unless builders can meet demand. Now it's one thing to take this Zillow report at face value, but what do the voices who live and work here think about our hottest housing market status? I met with two experienced real estate agents today. They both tell me they're not surprised and believe Buffalo could retain this top spot for years to come. I'm not surprised, honestly. Buffalo has been a great market for a second straight year. The real estate website Zillow expects Buffalo to be the nation's hottest housing market in 2025. Kelly Spurlock is the incoming president for the Buffalo Niagara Realtors Association and a branch director for Hunt Real Estate. Spurlock tells me the numbers add up. We have very affordable housing in our area, especially compared to other places in the country, and you know, seems to be a place that people want to live. It falls in line with the way I see it. It's not surprising to me. Carmelo Parlato is a licensed real estate agent with Gurney, Becker and Bourne in the city. He tells me Buffalo's climate and position on the Great Lakes, along with the city's layout and architecture, are among the many factors that continue to make the Queen City a popular place for homebuyers. We're not maybe the sexiest idea in the whole nation, but when you get down to brass tacks and livability and quality of life, it makes a lot of sense. Zillow's list of the hottest markets for 2025 was based in part on forecasted home value growth and changes in the labor market. Parlato says he's worked with many homebuyers moving to Buffalo from out of the area. I do see a lot of people moving here from New York City and from the bigger cities in the surrounding areas. I see a lot of investors from Canada, Toronto. With a limited supply and continued demand, Zillow believes home prices in Buffalo will jump by 2.8 percent in 2025 after growing by close to 6 percent in 2024. Those looking to sell are smiling, but what does that mean for buyers? I think you definitely want to buy in a city that has an uptrend. You don't want to buy in a city that's going down, right? So I think that's good. I feel like I've been saying this for years, like it's just going to keep going up, like no better time than right now to get into the market if you're looking to buy. And Spurlock added that numbers show it's not only Buffalo that is seeing this high demand, but the entire Buffalo-Niagara region with the average sale price in our region for November of 2024 closing in on $300,000. She adds if you're looking to buy or sell a home, it's always best to work with a local real estate agent. I'll have that full report from Zillow and more from our experts on wkbw.com.