For the past few years we have been assured, confidently and repeatedly, that New York is over. Everyone is packing up for Florida. The Northeast is collapsing. Manhattan is a ghost town with good restaurants.
And yet, according to Zillow, the hottest housing markets in America for 2026 are overwhelmingly in the Northeast and coastal California. Florida did not make the top ten. Not ninth. Not tenth. Not even close. No, Texas. No sunbelt.
In fact, New York is the first major metro on the list.
Let’s look at what a “dead” market apparently looks like. In the New York metro area, 49 percent of homes sold above asking in 2025. Only 13.5 percent of listings had price cuts. Inventory is still 48 percent below pre-pandemic levels. Values rose 2.9 percent last year and are forecast to rise again in 2026. If this is what decline looks like, most cities would gladly volunteer.
Here is the full list of Zillow’s hottest markets for 2026, in order:
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Hartford
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Buffalo
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New York
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Providence
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San Jose
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Philadelphia
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Boston
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Los Angeles
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Richmond
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Milwaukee
Five Northeast metros. Two California economic engines. One global financial capital ranked third.
But yes, let’s continue the narrative about the great migration and inevitable collapse.
Nationally, housing has tilted somewhat toward buyers. But in markets with real job density, constrained supply, and global demand, sellers still have leverage. Competition remains stiff because demand continues to outpace available inventory.
Markets vote with capital. And capital is still bidding over ask in the Northeast.
New York is not done. It is undersupplied, economically durable, and very much in demand. The obituary was written early. The market clearly disagrees.
New York is not done. It is undersupplied, economically durable, and very much in demand. The obituary was written early. The market clearly disagrees.
