The 10 U.S. cities where people are rushing to buy homes
Today’s homebuying environment is as good as it’s been in a decade or two, but everything in real estate revolves around location.
In the wrong spot, buying a home can be nearly impossible, but there are also places where the American Dream is alive and well. After some tough years that saw 1 in 20 people give up on homeownership, the trend is now starting to reverse. Sales of new homes just hit a new peak not seen in a decade, and they continue to rise.
So, here are 10 locations around the country where great opportunities to buy a home meet a housing economy that’s more affordable now than 20 years ago. These are the places where homeownership rates are rising fastest, according to a realtor.com study of Census data from 2014 to 2017 in the nation’s largest metro areas.
Top 10 cities for growth in homeownership
- Milwaukee, WI: Surging 11% to 68.7% homeownership with a median home price of $224,950
- Charlotte, NC: Rising 10.5% to 62.8% homeownership with a median price of $327,050
- Memphis, TN: Up 9.3% to 61% homeownership with a median price of $195,050
- Baltimore, MD: Up 7.3% to 68.4% homeownership with a median price of $300,040
- Allentown, PA: Increasing 7.3% to 74.8% homeownership with a median price of $225,050
- Pittsburgh, PA: Rising 7.2% to 74% homeownership with a median price of $174,950
- Albuquerque, NM: Up 5.7% to 66% homeownership with a median price of $239,950
- Nashville, TN: Rising 4.9% to 68.8% homeownership with a median price of $359,050
- Dallas, TX: Up 4.8% to 60.7% homeownership with a median price of $339,950
- Syracuse, NY: Increasing 4.6% to 66.5% homeownership with a median price of $149,950
Take a closer look at the study to learn what driving forces are sending people into new homes in each location, and check out these three reasons to buy a home today. If you’re ready to move, our complete guide to comparing mortgages offers insight into what types of home loans are available, what fees are involved in buying a home and how to get the best interest rate and terms.
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