Homebuyers’ Buffalo gallop

Snowy Buffalo is slated to have the hottest major housing market in 2024, according to a report.

Despite the notoriously long, harsh winters, the Western New York town topped Zillow’s list of the 50 “hottest” markets of 2024 due to its affordability— making owning a home a real possibility for young people.

“Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity,” Anushna Prakash, data scientist for Zillow Economic Research, said in the real estate company’s report.

The typical home in the Queen City is currently valued at $248,445, according to Zillow’s estimates — significantly lower than the national average of $347,415.

A buyer putting 5% down on a typical home in Buffalo would have a monthly mortgage of $1,792, according to the report.