Surprise! These Southern Cities Are Showing Impressive Price Drops
Looking to plot your next move but not sure where to look? You may want to consider Laredo and College Station, Texas, Cape Coral, Florida, and Huntington, West Virginia.
Why is that? The home prices in these Southern locales are going down, down, down. Recently, Realtor.com crunched numbers to evaluate which housing markets are seeing the biggest price drops. The listing price declines happen for a variety of reasons, experts say, ranging from overbuilding to natural disasters. To make the top ten cut, Realtor.com looked at the change in median list prices on Realtor.com from April 2018 to April 2019 in the 250 largest metro areas, balancing for geographic diversity and eliminating markets where price per square footage rose in that time frame.
Securing the number one slot for where home prices have fallen the most is San Jose, California in the Bay Area. Here's how the Southern cities stacked up in the top 10:
Median list price: $265,000
Median list price change: -5.4%
#7. Cape Coral, FL
Median list price: $300,000
Median list price change: -3.3%
#8. Laredo, TX
Median list price: $180,100
Median list price change: -2.9%
#9. Huntington, WV
Median list price: $143,300
Median list price change: -2.3%
Whether you're planning your retirement or simply craving a change of place, you may want to look into any of the above towns for your next move. For more options, check out 15 Affordable Small Towns We Love or these five Southern cities where you can get a monthly mortgage for $1,000 or less.
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Now, the question is: How are we ever possibly going to narrow down all these affordable cities and settle on just one for our next home?