M
iami has cracked the top 20 hottest housing markets for 2025, according to Zillow's annual forecast. This year's rankings reveal a westward shift in America's economic centers, diverging from last year's Rust Belt dominance. The top-ranked markets are characterized by limited housing inventory and relatively affordable prices, driven by strong job and wage growth.

    Miami's No. 15 ranking represents a significant jump of 10 spots from last year, making it the only Florida metro to rise in the rankings. In contrast, Tampa, Orlando, and Jacksonville all experienced declines: Tampa fell 19 spots to No. 29, Orlando dropped 14 places to No. 23, and Jacksonville slid nine spots to No. 40.

    Zillow's senior economist warns that homes in some falling markets are already taking longer to sell, with home values expected to depreciate. The key drivers of the housing market remain affordability and inventory, as buyers seek out areas with a balance between price and availability.