The U.S. is grappling with a housing crisis characterized by tight inventory and high mortgage rates, making affordable homes hard to find. However, the situation differs by state. Companies consider local real estate markets when choosing where to establish operations, as they want their employees to find affordable, quality housing. This factor is included in CNBC's annual ranking of America’s Top States for Business.

The housing market is assessed under the Economy category, focusing on affordability, value, price appreciation, seller gains, inventory, housing starts, foreclosure activity, and underwater mortgages. Here are the top ten states for buying and selling homes in 2024.

This are mayor key points:

• High interest rates and limited housing supply are challenging for both homebuyers and sellers.
• The housing crisis varies significantly across states, with some top states also facing increasing climate risks.
• The residential real estate market influences corporate decisions on location and is included in CNBC's annual America’s Top States for Business study.

10. Delaware:

Delaware offers average housing affordability but benefits from very low property taxes, significantly increasing the value of your housing dollar.

• Economy Rank: 10 (Grade: B-)
• Appreciation: 4.73%
• Inventory: 2 months
• Affordability Score: 0.56
• Effective Property Tax Rate: 0.43%
• Median Sales Price: $360,700

9. Indiana

Indiana combines low property taxes with strong price appreciation, making it an attractive option for homebuyers despite tight inventory.

• Economy Rank: 19 (Grade: C)
• Appreciation: 8.02%
• Inventory: 2 months
• Affordability Score: 0.81
• Effective Property Tax Rate: 0.86%
• Median Sales Price: $265,300

8. Georgia

Georgia’s growing home inventory and active homebuilders contribute to better affordability, even as price appreciation remains robust.

• Economy Rank: 7 (Grade: B)
• Appreciation: 7.16%
• Inventory: 3 months
• Affordability Score: 0.59
• Effective Property Tax Rate: 0.82%
• Median Sales Price: $385,600

7. Tennessee

Tennessee boasts some of the lowest property taxes in the country. While affordability is a concern, new legislation is promoting the development of affordable housing.

• Economy Rank: 3 (Grade: B+)
• Appreciation: 6.24%
• Inventory: 3 months
• Affordability Score: 0.49
• Effective Property Tax Rate: 0.44%
• Median Sales Price: $393,000

6. Nevada

Nevada's historically volatile housing market has seen price moderation, maintaining healthy home equity despite affordability challenges.

• Economy Rank: 8 (Grade: B)
• Appreciation: 3.39%
• Inventory: 2 months
• Affordability Score: 0.43
• Effective Property Tax Rate: 0.48%
• Median Sales Price: $458,300

5. New Jersey

Despite high property taxes and foreclosure rates, New Jersey's active housing market continues to experience price surges.

• Economy Rank: 17 (Grade: C+)
• Appreciation: 11.38%
• Inventory: 2 months
• Affordability Score: 0.56
• Effective Property Tax Rate: 1.64%
• Median Sales Price: $532,400

4. North Carolina

North Carolina benefits from a high level of housing starts and reasonable property taxes, maintaining strong price appreciation despite tight inventory.

• Economy Rank: 4 (Grade: B+)
• Appreciation: 6.98%
• Inventory: 2 months
• Affordability Score: 0.52
• Effective Property Tax Rate: 0.6%
• Median Sales Price: $383,700

3. Arizona

Arizona sees decent seller gains with active construction, though affordability remains low.

• Economy Rank: 5 (Grade: B+)
• Appreciation: 6.63%
• Inventory: 3 months
• Affordability Score: 0.44
• Effective Property Tax Rate: 0.41%
• Median Sales Price: $450,800

2. South Carolina

South Carolina’s rising home prices and increasing construction activity maintain affordability, despite high foreclosure rates.

• Economy Rank: 12 (Grade: B-)
• Appreciation: 9.42%
• Inventory: 3 months
• Affordability Score: 0.61
• Effective Property Tax Rate: 0.5%
• Median Sales Price: $387,700

1. Florida

Florida balances a tricky housing market with strong price appreciation and construction activity, though affordability issues persist amid climate risks and an insurance crisis.

• Economy Rank: 1 (Grade: A+)
• Appreciation: 6.85%
• Inventory: 4 months
• Affordability Score: 0.44
• Effective Property Tax Rate: 0.76%
• Median Sales Price: $420,100