Although home prices continue to rise at a dizzying pace in many cities, there are still other places where good opportunities can be found, since they have shown a decrease in their price, as revealed by a new study by the portal of real estate Realtor.
There were four markets in which prices fell the most in the month of June, compared to last year, which are the following:
–Pittsburgh, Pennsylvania
In Pittsburgh, home prices fell 8.6%.
–Rochester, New York
In this city in the state of New York, home prices homes had a decrease of 5.9%.
–Cincinnati, Ohio
In Cincinnati residences can be found with a price reduction of 5.7%.
–Buffalo, New York
In the city of Buffalo the prices of housing fell 2% in the month of June.
More houses at better prices
Across the country, the number of houses that had a reduction price grew by 7.6% in June.
In Austin there was a 22.7% more homes that had price reductions; Phoenix had an increase of 22.2% in the number of homes that had a price reduction; and was followed by Las Vegas, where there was a 20.1% more homes with price reduction.
Approximately 1 in 7 homes nationwide had a price reduction in the month of June. It should be noted that, as of June of last year, only 1 in 13 houses had had a price reduction. However, we are still far from the figures recorded between 2017 and 2019, where one of every four houses had price reductions.
On the other hand, as for the cities where there was a greater growth in the price of houses, we can see that, in Miami, prices increased by 40.1% on average; in Orlando they rose by 30.6%; and in Nashville they rose by 30.6%.
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