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10 cities where a buyers market is near | Mortgage Rates, Mortgage News and Strategy

A buyers market to come?

Housing is still on sellers’ sides, but that doesn’t mean it’s a bad time to buy a home. In fact, according to new data, there are actually 10 cities where a buyers market might soon be on the horizon.

Verify your new rate (Jul 1st, 2019) Buyer -friendly cities

According to new data from Realtor.com , 10 housing markets are starting to lean in favor of buyers, with growing inventories, sluggish home price appreciation and overall slow sales.

At the top of the list is New York’s Albany-Schenectady-Troy metro area, where buyers enjoy a 6.5-month supply of homes. That’s a 31 percent uptick since last year. Sales are also down 12 percent, meaning much less competition, and the median price in the area hasn’t jumped a bit.

As Javier Vivas, Realtor.com’s director of economic research, explains, “While the overall housing market continues to favor sellers, new signs are hinting that the balance is tilting back into buyers’ favor. Among mid to large housing markets, 10 metropolitan areas in particular show trends consistent with buyer friendly conditions and continue to move in that direction.

These are metro Detroit's top 5 places for first-time home buyers

Many neighborhoods in this Oakland County community come with beach and lake access, a popular amenity with residents who don't need to own a $500,000-plus home to belong.

“What is attracting the buyers to Waterford is it is surrounded by the lakes, it has good schools and it's an easy commute," said Tina Zudell of RE/MAX Encore, who also resides in Waterford. “I like the area a lot, and I bought in Waterford because you do get more for the money here."

Prices in Waterford, not too long ago around $150,000, have jumped in the past year, yet are still below those in other Oakland County markets known for lakes and waterfront homes.

The main frustration now among would-be buyers is the slim inventory of for-sale homes, Zudell said, a situation that often leads to bidding wars.

“What’s happening this year is seven or eight buyers will look at one house priced at $150,000," she said. 

The Best Large/Major City for Education?

I Want to Raise My Family in the Largest and Major City Metro But With That Focus, I Also Want My Child(ren) to Have The Very Best Education Possible
(Undecided If I Will Choose Private or Public School)
I am Processing for The U.S.


I you are looking at major metropolitan areas (NY, LA, Chicago), private school is going to be your best bet, unless you are willing to travel a little bit out to the suburbs.

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