The Philadelphia metropolitan area ranks fifth on Zillow’s list of the hottest markets for 2025. The affordability of its homes compared to other nearby markets and the shortage of homes for sale compared to demand have made the region one of the country’s most competitive markets. “Philly happens to be one of those markets where buyers are kind of starved for housing inventory,” said Orphe Divounguy, a senior economist at Zillow. “The gap between supply and demand has closed a little bit, but just not as fast as in markets across the country. … You’re seeing other markets improving in terms of inventory much faster.” The Philadelphia metro is not a market that tends to build a lot of housing, he said, which explains why it jumped up six spots on Zillow’s list of competitive markets compared to last year. In the Philadelphia area, the supply of homes for sale in December was up 5.5% compared to the same time the year before. In the country as a whole, housing inventory was up 16.8%. Read more in the Inquirer.
Source: Philadelphia Inquirer; 1/22/2025