The Best U.S. Areas for Homebuyers
The five most popular, inexpensive U.S. real estate markets include the following:
- Southern South Carolina – This area is hot as a buyers’ real estate market. Home prices have dropped five-percent since 2012 and the median home price is only $269,900. On average, homes stay on the market for 156 days, which gives buyers more time to look at several homes before deciding to make an offer. More people are buying in this area and bidding wars are shortly anticipated.
- Reading, Pennsylvania – One of the poorest U.S. cities, this area is highlighted by beautiful homes, including brick row styles, stone homes and acreage properties. The average three-bedroom home sells for $179,000 and four-bedroom farmhouses in rural areas are valued at the same. Home prices here are relatively stable, only falling 10-percent since the economic fallout has plagued the country. Buyers can rely on a stable market in this area, giving them more time to shop around for a home or investment property.
- Santa Fe, New Mexico – This area is heavy on tourism and the booming arts industry. Boasting a population of only 70,000, many of the homes in Santa Fe are vacation homes. While prices have decreased 20-percent since 2007, experts predict they will increase 9.1-percent over the next five years. Santa Fe’s market is anticipated to be the second highest in the nation. Homes have an average of 147 days on the market, giving buyers time to shop around for a good deal.
- Asheville, North Carolina – Listed on Money’s “Best Places” to retire, this small city nestles into the Blue Ridge Mountains. With booming arts and music scenes, homes are relatively inexpensive compared to surrounding areas, with most coming in at less than $350,000. As inventory increases, buyers can jump on taking advantage of purchasing a home in this beautiful, up-and-coming area.
- Portland, Maine – Cold winters, fresh lobster and clear air draws people to Portland, Maine. With a reasonable cost of living, this area is ideal for investors and homebuyers. Home prices are nearly 20-percent higher than the national average and home listings have decreased by 15-percent; however, homes that have a long period on the market may offer buyers an excellent opportunity to own their dream homes.
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