Report: NYC the 8th Least-Competitive Housing Market in 2025 Hottest Markets in Other Northeastern States & California

By Mike LaFirenza 13 February 2025 Buying & Selling

States in the Northeast and California are home to some of the hottest real estate markets

Source: Construction Coverage analysis of Redfin data | Image Credit: Construction Coverage

According to the latest analysis from consulting firm Construction Coverage, 2025 is shaping up to be a year of renewed momentum in real estate: despite elevated mortgage rates and home prices, demand is rebounding—and some markets are emerging as standouts amid these new dynamics.

The full report analyzes real estate market conditions in over 600 U.S. cities and all 50 states, utilizing a composite score based on key indicators from Redfin to identify the hottest real estate markets of 2025.

Key Takeaways for NYC

Home sale prices are rising again: During the pandemic, home values soared, with year-over-year price growth peaking at 26.1% in May 2021. Sale prices slowed in 2022, and actually declined in 2023. But by the end of 2024, home prices were 6.3% higher than the year prior—a pace more in line with historical norms.

Home sales volume is ramping up as well: By December 2024, home sales were up 10.8% compared to one year prior, which is the strongest annual growth since mid-2021.

New York City in the rankings: New York City ranks 43rd out of 50 large U.S. cities in the “Hottest Real Estate Markets of 2025” report.

Construction Coverage is a leading online publisher of construction industry research reports. Its work has been featured on CBS, Fox, USA Today, Bloomberg, Nasdaq, and more. Additional commentary and insights from Construction Coverage can be provided on request.

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