The housing market in most of the country is still very tight, meaning there are fewer homes available than there are buyers who want a property. That’s bad news for buyers.
It means you’re likely to pay a higher price, compete with other offers, and struggle to make an offer on a home before it’s gone.
Working with a great buyer’s agent is essential so you can find out about homes as soon as they hit the market and make good decisions quickly. To connect with a top-rated agent who offers on-demand showings, reach out to Clever today.
The other thing you can do is choose a housing market that favors buyers. In certain parts of the country, the housing market is not nearly as hot and buyers have a choice of homes and can take their time making a decision.
Where are these markets? Here are five to look at.
Las Vegas, Nevada
You might be surprised, but one of the most recognizable cities in the U.S. is also one of the best buyer’s markets available. The market is highly tilted toward buyers because there was so much real estate development in recent years.
As more people move to Las Vegas the market may tighten, but right now you’re looking at a strong buyer’s market. The median home sales price is only $266,700, so it’s very affordable as well.
Remember, there’s a lot more to Las Vegas than the strip. There are a wide variety of outdoor activities, restaurants, and work opportunities. The state has no income tax, which makes it attractive for those who want to save money as well.
San Jose, California
A market that favors buyers is not necessarily a cheap market, and that’s definitely the case with San Jose. While the median home sales price is $943,200, there are still a lot more homes on the market than buyers looking to snap them up.
Homes are on the market longer and are more likely to receive a price cut. The good news is there are a lot of well-paying jobs in the area, so if you’ve been planning to move to the San Francisco area, this could be the time to do it.
Seattle is known for its cool weather, but right now it’s also a very cool market. The city is highly rated for a variety of factors, including schools, family friendliness, diversity, and nightlife. It’s also listed as the third best city for young professionals in the U.S.
The median sale price isn’t cheap at $712,300, but by choosing the right neighborhood and working with a buyer’s agent who is a great negotiator, you can find a home in your price range. It’s a large city with a variety of options, and because the market is cool you’ll have more time to make your decision.
From scenery to great food to friendly people, residents love what Seattle has to offer. Take advantage of the amenities yourself by working with a great buyer’s agent to find your dream home in the northwest.
Another metro area that has a lot of opportunity for buyers is Dallas, TX. It’s well-rated for schools, families, housing, and nightlife. It’s a very large city with many employment opportunities, with dozens of major corporations headquartered in the area.
Best of all, it’s a cool market that favors buyers. The time on the market is higher than many other cities, giving you plenty of time to check out homes to find your favorite. Also, because there have been more price drops in the city, your buyer’s agent may be able to negotiate a great price on your dream home.
Interested in the Pacific Northwest but find that Seattle is too expensive for you? Another great buyer’s market is Portland, Oregon. This city has a similar climate and natural beauty, but the median sale price is only $419,800.
Portland is highly rated for schooling, families, and nightlife and diversity. It’s one of the best places in the nation for outdoor activities, as well as being in the top 20 for young professionals and health. There are a lot of events and activities to enjoy. You won’t regret moving to Portland!
Find Your Dream Home in a Great Market Today
If you’re looking for the best buyer’s markets, these five will give you a great start. As you can see, you don’t have to buy a home in the middle of nowhere to find a great buyer’s market.
Of course, having the right agent is essential. A highly-qualified agent can help you find the right home quickly and negotiate a great price. Working with a Clever Partner Agent not only gets a top-rated full-service agent, but you may also qualify for a cash rebate of $1,000 toward closing.
Are you ready to find a great home in a buyer’s market? Contact Clever for more information today.