Ohio Gains Housing Edge as Miami Sellers Outnumber Buyers by 140%

1 articles · Updated · Fortune · Aug 8

Redfin’s July data shows Ohio holding up far better than Sunbelt rivals in a national buyer’s market where sellers outnumber buyers by nearly 2 to 1.
Cleveland is one of the few balanced U.S. markets, while Cincinnati and Columbus remain only modest buyer’s markets at 37.2% and 40.5%; Miami, Nashville, Houston, San Antonio and Austin are the most lopsided.
Affordability is driving the shift: Midwest median home prices often run $200,000 to $275,000, Cleveland sits near $150,000, and Columbus home prices still rose more than 7% year over year to $301,000.
Florida and Texas are losing appeal as overbuilding, higher property taxes, insurance and HOA costs, and climate-related risks erode the pandemic-era Sunbelt advantage; Austin prices were 27.8% below their 2022 peak in April data.
Ohio’s steadier demand is also tied to jobs and wealth-building prospects, including Cincinnati’s corporate base and Intel’s roughly $20 billion project near Columbus, which are drawing Gen Z buyers and remote workers from higher-cost metros.