The real estate business may be facing a softening in sales, but there are parts of the country where it makes sense to buy now. Forbes magazine examined current home sales patterns and sales projects in the country’s 40 largest real estate markets to identify these attractive markets.
Based on models that estimated 2008 housing inventory, sales rates, and turnover, the magazine compiled a list of markets that are experiencing price declines, but where buying looks attractive because there is likely to be an increase in sales in the near future.
Here are Forbes’ and Moody’s 10 most attractive real estate markets, along with the median homes sales price and their price change from 2006.
- Fort Worth, Texas: $156,500, 1.7 percent
- Kansas City, Mo.: $157,700, -0.7 percent
- Houston: $154,900, 1.4 percent
- Cleveland: $128,700, -7.1 percent
- Denver: $255,200, none
- Long Island, N.Y.: $482,300, 1.7 percent
- Washington, D.C.: $445,300, 0.3 percent
- Orlando, Fla.: $265,100, -2.4 percent
- Phoenix: $264,800, -2.7 percent
- Las Vegas: $307,900, -3.6 percent
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