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Two Massachusetts cities named top housing markets for 2024

by Liz Hughes

Two Massachusetts housing markets are set to see significant growth in 2024, according to  Realtor.com’s Top Housing Markets for 2024 report

Realtor.com’s 2024 National Housing Forecast predicts that as mortgage rates ease and home prices start to fall, housing affordability will improve. And while home sales nationally will grow slightly higher, some markets will see double-digit growth, and two of them are right here in Massachusetts. 

Springfield and Worcester both broke the top 10, coming in at No. 7 and No. 8, respectively, in the report, which ranks the 100 largest metros by expected sale and price growth rates. 

The Springfield market is forecast to see home sales grow 10.5% year over year, with the median home sale price rising 4.2%.

In Worcester, the market is expected to see home sales grow 9.1% from 2023, with the median home sale price rising 4.8%. 

Cities in the Northeast and the Midwest are more attractive for buyers due to affordable housing options. They are also more appealing because of their quality of life offerings, including cultural amenities, recreational opportunities and educational institutions. 

While Worcester didn’t have a list price below the national average — it was 14.7% more expensive — it is 41.8% less expensive than the Boston metro area, according to the report. The report also found more than a quarter of employment in three cities, including Springfield, was in education and health care, and Worcester was “just shy of this mark,” with less than 17% of jobs in those sectors. 

Toledo, Ohio, topped the list, followed by Oxnard-Thousand Oaks-Ventura, California, and Rochester, N.Y. San Diego-Chala Vista-Carlsbad, California, took the No. 4 spot, and Riverside-San Bernardino-Ontario, California, rounded out the top five. 

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