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Indy will be among hottest housing markets this year, Zillow predicts. What that means

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Indy will be among hottest housing markets this year, Zillow predicts. What that means


Indianapolis is expected to have the No. 4 hottest real estate market in the country this year, according to online real estate listing site Zillow.

Most of the cities that made it onto Zillow’s annual list were in the Midwest, Great Lakes region and the South, with Buffalo, N.Y., predicted as the hottest 2024 housing market.

The list is based on an analysis of forecast home value growth, recent housing market velocity, projected changes in the labor market, home construction activity and number of homeowner households. The analysis was applied to the top 50 metropolitan areas by population.

More on real estate: See inside 3 of the top home sales in Indianapolis in 2023

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Also in the top five are Columbus and Cincinnati, Ohio, and Providence, Rhode Island.

Buffalo topped the list because of recent increases in the number of jobs created compared to the number of new home construction projects being approved, as well as expectations for steady home values.

Zillow’s predicted 10 hottest housing markets of 2024:

  1. Buffalo, NY
  2. Cincinnati, OH
  3. Columbus, OH
  4. Indianapolis, IN
  5. Providence, RI
  6. Atlanta, GA
  7. Charlotte, NC
  8. Cleveland, OH
  9. Orlando, FL
  10. Tampa, FL

Some of the highest mortgage rates since 2008 slowed growth in home prices last year, Zillow said, and it expects only 15 of the 50 largest markets to see home values grow in 2024.

Even some of the fastest-growing markets of 2023 are expected to see significant slowdowns in the year to come, said Anushna Prakash, data scientist for Zillow Economic Research.

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Local Journalism impact: For the greater good of Central Indiana: IndyStar’s Community Impact Report

Zillow predicts that low inventory will also continue. Some of the markets with the lowest supply in 2023, or in other words where homes generally sold the fastest, were in Hartford, Cincinnati and Columbus.

One factor keeping supply low, Zillow said, is that baby boomers are not selling their homes as they age to the extent previous generations did. Millennials, meanwhile, are aging into their prime home-buying years.

In 2024, only 14 of the 50 largest markets are expected to see homeownership rise, Zillow said.

Zillow’s list was based on the following data:

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  • Forecast annual home value appreciation in November 2024
  • Forecast acceleration in home value appreciation, November 2023 to November 2024
  • Days on market per home, January 2023 to November 2023
  • Two-year change in total non-farm employment per two-year residential building permit total
  • Projected change in owner-occupied households, 2023 to 2024

Contact IndyStar reporter Caroline Beck at 317-618-5807 or CBeck@gannett.com. Follow her on Twitter: @CarolineB_Indy.

Caroline’s reporting is made possible by Report for America and Glick Philanthropies. As part of its work in Marion County, Glick Philanthropies partners with organizations focused on closing access and achievement gaps in education. 

Report for America is a program of The GroundTruth Project, a nonpartisan, nonprofit organization dedicated to strengthening local newsrooms. Report for America provides funding for up to half of the reporter’s salary during their time with us, and IndyStar is fundraising the remainder.  

To learn more about how you can support IndyStar’s partnership with Report for America and to make a donation, visit indystar.com/RFA.





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Indianapolis, IN

Woman Injured in Shooting at Indianapolis Hotel

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Woman Injured in Shooting at Indianapolis Hotel


INDIANAPOLIS — A shooting that injured a woman at a hotel on Indianapolis’ south side Saturday night is under investigation.

The Indianapolis Metropolitan Police Department said officers were called to the Motel 6 in the 4300 block of Southport Crossings Way just after 9:30 p.m. on a report of a person shot.

Arriving officers found a woman who had been shot. She was reported to be in stable condition.

Investigators believe there was an altercation between the woman and a man in a hotel room that led to shots being fired.

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No other information about the incident has been released by police.



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Indianapolis, IN

Indianapolis council president calls for pause on data center developments

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Indianapolis council president calls for pause on data center developments


INDIANAPOLIS (WISH) — The Indianapolis City-County Council president explains her desire for a data center moratorium.

Council President Maggie Lewis wants to put a pause on new data center developments. The proposal comes after months of public pressure from residents and environmental groups who say the city needs stronger rules before allowing more data centers. Now, Lewis says it’s time to hit pause while those questions are answered.

“I’m not saying that we’ll never have a new data center in our community. That’s not what this is about. I understand the importance of economic development in our community, but it is important that we hit pause, do that deep dive, and allow the community and the experts to have an honest conversation about the topic,” Lewis said.

Lewis says she isn’t trying to stop economic development. Instead, she says the city needs more time to fully understand what data centers could mean for Indianapolis before approving additional projects. Lewis says residents have raised questions about the potential impact on utilities, the environment and quality of life, and she believes those concerns deserve a more thorough public discussion before the city moves forward with additional developments.

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“The community really is feeling as if their voices haven’t been heard. I believe it’s important that we bring all the stakeholders to the table and have that honest dialogue,” Lewis said.

Councilman Ron Gibson, who supports bringing data centers to Indianapolis, and he says these projects can bring investment to neighborhoods when they’re built in the right locations.

“This land where they’re going to actually develop it has been vacant for more than 43 years,” Gibson said. “It’s zoned for industrial use. This is really going to enhance our neighborhood. It’s going to bring back life, create more businesses that want to move into our area, and create more opportunity.”

(WISH Photo)

One of the biggest concerns raised by opponents is whether increased demand for electricity and water could create additional costs for taxpayers.

“I believe strongly that the data centers must uphold total costs. I made sure the developer, in writing, is responsible for all utility costs, so none of that rolls over to constituents,” Gibson said.

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Across Indiana, at least 17 counties have approved temporary moratoriums on new data center developments. Marshall and Cass counties have gone even further, banning new facilities altogether.

The committee meeting begins Monday at 5:30 p.m. inside the City-County Building, where members will hold a public hearing on the proposed zoning rules and consider Lewis’ amendment for a temporary moratorium. If approved by the committee, the proposal would move to the full City-County Council for further consideration.



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Indianapolis, IN

Woman killed in downtown Indianapolis hit-and-run crash

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Woman killed in downtown Indianapolis hit-and-run crash


INDIANAPOLIS — An investigation is underway after a woman was killed in a hit-and-run crash in downtown Indianapolis Saturday morning.

According to the Indianapolis Metropolitan Police Department, at around 3:15 a.m., officers responded to the intersection of East Maryland and South Pennsylvania Streets after hearing a loud crash in the area.

Photo of IMPD investigating a hit-and-run crash in downtown Indianapolis on July 11, 2026, captured by a FOX59/CBS4 crew.

When officers arrived on scene, they were flagged down by several people stating a pedestrian had been struck. Officers located an adult female who had been on a scooter in the crosswalk of the intersection.

She was transported to an area hospital in critical condition but later died from her injuries, IMPD said.

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Investigators said the striking motorist did not stay on scene.

Police are encouraging those with information on the crash to contact Detective Adam Jones at (317) 327-3475 or call Crime Stoppers of Central Indiana at (317) 262-8477.



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