When it’s not a seller’s market, it could be a bright side for buyers. So where are the markets with the most bargains for home buyers on a budget? To find out, the data team at the real estate website Zillow looked at several factors, including the percentage of listings with price cuts, the median amount of those price cuts, the sale-to-list price ratio (or how much lower the sale price was from the last list price), and at foreclosure resales in places where foreclosure data was available (all data was the most recent available, from March 2012).
All told, the team considered 137 metropolitan areas. What follows are the 10 areas in five states that had the best numbers across those criteria. Of course, factors contributing to the buyers’ markets can include higher-than-average unemployment rates for the area and other economic woes. As with all real estate purchases, buyers in these metro areas will have many factors to consider.
By Colleen KanePosted 17 May 2012