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10 CITIES WHERE ITS A GREAT TIME TO BUY

Daily Real Estate News  |  October 9, 2007

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 Las Vegas 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 cities along with the median homes sales price and their price change from 2006.

1.      Fort Worth, Texas: $156,500, 1.7 percent

2.      Kansas City, Mo.: $157,700, -0.7 percent

3.      Houston: $154,900, 1.4 percent

4.      Cleveland: $128,700, -7.1 percent

5.      Denver: $255,200, none

6.      Long Island, N.Y.: $482,300, 1.7 percent

7.      Washington, D.C.: $445,300, 0.3 percent

8.      Orlando, Fla.: $265,100, -2.4 percent

9.      Phoenix: $264,800, -2.7 percent

10.  Las Vegas: $307,900, -3.6 percent

Source: Forbes, Matt Woolsey (10/08/07) 

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