Zillow's analysis considers such factors as home construction, the local job market and the percentage of homeownership.

Buffalo, N.Y., will for the second year in a row be the hottest housing market in the country due to its job market stability and affordable home prices, according to a report released Tuesday by online real estate marketplace Zillow.

Buffalo may be known for its colder temperatures, but it also has one of the hottest housing markets in the country.