Top 10 U.S. Cities with Huge Increases in Home Buying
Buying a home these days may not be as easy as it used to be due to more stringent loan qualifications, debt and higher home prices with lower inventory among other things. But believe it or not, home ownership is still alive and well. Here are the top 10 cities with huge increases in home buying according to the data team at Realtor.com®.
- Milwaukee, WI/ Median home price: $224,950 /Current homeownership rate: 68.7 percent
- Charlotte, NC/ Median home price: $327,050 / Current homeownership rate: 62.8 percent
- Memphis, TN / Median home price: $195,050 / Current homeownership rate: 61 percent
- Baltimore, MD / Median home price: $300,040 / Current homeownership rate: 68.4 percent
- Allentown, PA / Median home price: $225,050/ Current homeownership rate: 74.8 percent
- Pittsburgh / Median home price: $174,950 /Current homeownership rate: 74 percent
- Albuquerque, NM / Median home price: $239,950 /Current homeownership rate: 66 percent
- Nashville, TN / Median home price: $359,050 / Current homeownership rate: 68.8 percent
- Dallas, TX / Median home price: $339,950 /Current homeownership rate: 60.7 percent
- Syracuse, NY / Median home price: $149,950 /Current homeownership rate: 66.5 percent
“Affordability is a strong draw to these areas,” says Danielle Hale, chief economist at realtor.com®. “A lot of these cities are on the outskirts of big cities where folks can snag an abode for less and then commute downtown for work, she adds.” Ownership is shooting up the most in Rust Belt cities undergoing resurgence; in smaller cities close to much bigger and pricier metros, where commuters can snag a home for less; and in fast-growing Southern hubs that are continuing to experience booming job markets.
Disappointed that Phoenix didn’t make the top 10 cities with huge increases in home buying list? Don’t despair! Contact The Voss Team today if you’re ready to buy a home in Phoenix or sell your Phoenix home. We have the reputation, experience and local knowledge you need to find the right property, or successfully sell a property for top-dollar. Please feel free to browse our website or let us guide you every step of the way, by calling or e-mailing to set up an appointment today!
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