If you are a Pakistani American looking to buy a home in the Northeast or Midwest then you may want to think again. A new report from Zillow reveals that these regions are expected to experience a severe housing shortage in 2025, with demand far outpacing supply. Home prices will likely skyrocket making it even more difficult for buyers to find affordable options.
What is behind this housing shortage? According to Zillow’s chief economist, Skylar Olsen, it is largely due to a lack of new construction in these regions.
Olsen explained that in many of these areas, construction has really struggled to keep pace. This is particularly true in cities like Buffalo, New York, which is expected to see an influx of new workers in 2025. With two new jobs per home permitted, Buffalo’s housing market is likely to become even more competitive, with home prices forecast to grow an additional 3% in 2025.
But it’s not all bad news. While the Northeast and Midwest may be experiencing a housing shortage other regions are expected to see a decline in home prices. Cities like New Orleans, San Francisco, San Jose, and Austin may offer more favorable conditions for buyers, with longer decision-making times and more available homes. However, it is worth noting that falling home prices in these cities may mask other costs, such as skyrocketing homeowners’ insurance rates.
What Does This Mean for Pakistani American Home Buyers?
If you are a Pakistani American looking to buy a home in the Northeast or Midwest, be prepared for a competitive market. Home prices are likely to be high, and you may need to act quickly to secure a property. However, if you’re open-minded and willing to consider other regions, you may find more favorable conditions. Just be sure to factor in all the costs, including homeowners’ insurance rates, before making a decision.
The Top 5 Hottest Housing Markets in 2025
According to Zillow’s report the top 5 hottest housing markets in 2025 are:
- Buffalo, New York
- Indianapolis, Indiana
- Providence, Rhode Island
- Hartford, Connecticut
- Philadelphia, Pennsylvania
These cities are expected to experience significant growth in home prices with Buffalo leading the way at 3% growth forecast for 2025.
Is There a Silver Lining?
While the housing market may seem daunting there are still opportunities for Pakistani American home buyers. By being informed and prepared, you can navigate the market and find your dream home. So, don’t give up hope with the right strategy and a little bit of luck, you can still achieve your goal of homeownership.
