Analysis of Affordable Homes in Big Cities – Realtor.com Study
In today’s real estate market, finding an affordable home can feel like searching for a needle in a haystack. With the national median home price hovering around $415,000, many potential buyers may feel discouraged. However, a recent analysis from Realtor.com has uncovered a glimmer of hope for those looking for affordable housing options.
According to the analysis, there are several big cities where homebuyers can still find properties in the $200,000 to $350,000 price range. Even better, the number of homes for sale in this range has increased by more than 20% compared to the same time last year. This surge in affordable listings is a welcome development for many prospective buyers who have been priced out of the market.
One of the key findings of the analysis is the significant growth in listings priced under $350,000. Despite projections of cooling mortgage rates and home prices, affordability remains a major challenge for the average buyer. However, the increased availability of homes in the $200,000 to $350,000 range offers a ray of hope for those looking to enter the housing market.
The cities with the greatest share of affordable homes are predominantly located in the South, with major metropolitan areas such as Miami, Tampa, Dallas, and Houston leading the pack. These cities offer a variety of housing options within the affordable price range, including attached homes like condos, townhomes, and row houses. For those seeking single-family homes, cities like Dallas, San Antonio, and Houston in Texas are the best bet for budget-friendly options.
In addition to highlighting the cities with the most affordable homes, the analysis also provides a list of the top 10 big cities with the most listings between $200,000 and $350,000. Miami, Dallas, Tampa, San Antonio, and Houston top the list, showcasing the range of affordable housing options available in these cities.
Overall, the analysis from Realtor.com sheds light on the increasing availability of affordable homes in select cities, offering hope to buyers who have been struggling to find a property within their budget. With the real estate market constantly evolving, it’s important for buyers to stay informed and explore all available options to find their dream home at an affordable price.
