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

During the pandemic, the housing markets in Florida and Texas enjoyed a surge in popularity. Unencumbered by office attendance, remote workers headed south to cash in on the Sun Belt’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 Sun Belt 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 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 the lopsided market, Ohio holds steady The five most lopsided buyer’s markets in the country are all in the Sun Belt: Miami (where sellers outnumber buyers by 148%), Nashville (119%), Austin (112%), San Antonio (109%), and Las Vegas (101%). Every major Florida and Texas metro Redfin tracks is now a buyer’s market, with Houston sellers outnumbering buyers by 97% and Dallas by 87%. “High property taxes, rising insurance costs, and fears about job security are making homebuyers very selective,” Barb Cooper, a Redfin Premier real estate agent in Austin, said in a statement. “The buyers who are in the market want turnkey homes in every sense, and they can afford to wait without compromising because we have tons of inventory.” Meanwhile, Ohio is holding the line. Cincinnati and Columbus are modest buyer’s markets (30.7% and 22.8%, respectively), and Cleveland is one of the rare balanced markets in America. Gen Z buyers and remote workers, especially, are abandoning higher-cost Sun Belt metros for the Midwest, where median home prices often hover between $200,000 and $275,000—well below the national figure, which has surpassed $40…