Zillow names Indianapolis one of hottest real estate markets for 2024

By BENTE BOUTHIER Zillow’s report said the new stater home is a single-family rental, and Edwards said that’s consistent with what she sees in the market. (Photo/WTIU News) Indianapolis made Zillow’s top five hottest real estate markets for 2024, ranking behind two cities in Ohio and one in New York. Zillow is a tech real-estate marketplace company and the most visited real-estate website in the United States. For rankings it considered home value growth, recent housing market velocity, projected changes in the labor market, home construction activity, and the number of homeowner households.& Erica Edwards, a Realtor for Century 21 Scheetz in Indianapolis, said when interest rates fell under 3 percent in 2020, the market was incredibly busy. Since then, rates have climbed up past 7 percent. “When that started to happen, the market started to balance out for that reason,” she said. “But I still think that people who can afford to buy at the current interest rates are still out there buying, which makes for a more steady market.” Edwards said new construction is very prevalent in the Indianapolis area and there’s a shortage of homes available for interested buyers. Zillow’s report said the new starter home is...