Big Cities with Markets for Buyers

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Realtor.com says there are actually neighborhoods in the country’s biggest cities where home buyers have the upper hand.  They identified the top 10 places where prices are affordable, there are plenty of homes for sale, a relatively low crime rate, and a reasonable work commute.  To get this list, they analyzed zip codes in the nation’s 10 largest cities.  Then they looked at items such as median price, days on market, and the share of homes for sale.  To keep things enticing, they eliminated neighborhoods where commuting takes more than an hour (in rush hour) and they took out places with high crime rates (go figure?).

“Buyers are getting creative to make the dream of homeownership become a reality, while also dealing with the reality of their budget,” says Danielle Hale, chief economist for realtor.com. “They’re looking for homes that might be smaller or maybe require some work, or to neighborhoods that are less expensive that might be their second pick.”

Click here to read the full story on Realtor.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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