This story comes from https://www.forbes.com/ and it ranks #5 as the top housing market for 2021.
"Despite suffering from population loss and a decline in industry like much of the “Rust Belt,” Cleveland still has a lot going for it. And, in a time when remote-working is more feasible than ever, the affordability of Cleveland’s housing market is certainly appealing. Over the last year especially, activity has heated up in the Cleveland housing market. Available for-sale inventory stood at 8,364 homes in October 2019, barely changed from October 2018’s available inventory of 8,724 homes. But in October 2020, Cleveland’s inventory was down to 4,876 homes available, a drop of over 40% in only a year. Related to this is the sharp rise in the number of houses that were sold off the market within two weeks. That percentage stood at 18.4% of homes in October 2019, but by October 2020, more than 40% of homes were sold and off the market within two weeks."
First of all Cleveland Population and Industry is growing. Unemployment as of October is 5.8%, that is mainly because Covid 19, but not a bad number. Ohio also has a very nice unemployment payment system that workers tap into.
There are a lot of people who are moving to Cleveland because of the affordability and our state is basically opened for business.
Inventory has been extremely low because of new people moving in the state. I have done over 100+ transactions and understand the demand for real estate in Cleveland. The investor demand is high and so are the home buyers and sellers.
With the low inventory being so low it is a sellers market. That is causing a upward pressure on housing prices. If there where less people you would see just the opposite trend on home pricing (which we are not).
Either way Cleveland is one of the best most affordable places to live........
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Thank you