The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner

During the pandemic, housing markets in Florida and Texas enjoyed a surge in popularity. Unencumbered by office attendance, remote workers headed south to cash in on the Sunbelt’s warm temperatures, low tax rates, and new construction. 

But that story is being rewritten now. Homebuyers are now prioritizing affordability and steady employment, meaning Rust Belt cities are now stronger than their Sunbelt counterparts. Ohio, in particular, is a quiet champion of the American housing market, thanks to the allure of the Cleveland Clinic, and a $20 billion Intel plant. Oh, and homes that are about 30% cheaper than those on the coasts.

Redfin data released Monday shows the U.S. is firmly a buyer’s market, with sellers outnumbering buyers by 43% in March—just shy of the largest gap on record dating back to 2013. But the pain is not evenly distributed. 

In a lopsided market, Ohio holds steady

The five most lopsided buyer’s markets in the country are all in the Sunbelt: Miami (where sellers outnumber buyers by 148%), Nashville (119%), Austin (112%), San Antonio (109%), and Las Vegas (101%). Every major Florida and Texas metro...