Irondequoit, New York, is the surprise hottest housing market in the U.S., with homes typically selling in 8.5 days for over asking price. Nationwide, homes are on the market for over two months, with a median selling price of $410,000. Redfin predicts a “great housing reset” in 2026.

Buyers with low mortgage rates may be hesitant to sell in the current market, leading to less selection and higher prices. Redfin forecasts a slow recovery in the housing market in 2026, with the Midwest and Great Lakes regions becoming more appealing for their affordability and safety from climate-related events.

Homes in regions prone to natural disasters may linger on the market, potentially forcing sellers to sell at a loss. Redfin lists the least competitive housing markets in the Sun Belt. Affordable housing markets in the Rust Belt are becoming more attractive for buyers.

Options like USDA loans, VA home loans, FHA loans, and down payment assistance programs can make homeownership more affordable. Improving your financial situation by paying down debt and saving for a down payment can help you secure a better mortgage rate, regardless of location.

Read more at Yahoo Finance: Looking to buy a home? Houses sell for under $250K in this US town. Tips to make homeownership more affordable