In a Zillow ranking released on Tuesday, Providence and its metro area ranked as the third hottest market in the country, rising two places from where Zillow put it last year. Zillow ranked the 50 largest metro areas in the country. The only hotter markets, where it's even harder to buy a house, are Buffalo, New York and Indianapolis, Indiana.

Hartford, Conn., was also forecasted to be among the top markets by the real estate listing website, but Boston ranked 16th among the 50 metro areas compared.

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