That’s according to a new analysis from tech-enabled real estate firm owners.com which has released its first Market Recap highlighting the best and worst markets for buyers in 2017.
"With reduced inventory and appreciating home prices an issue in much of the country, real estate market conditions are challenging," said Phil Karp, Senior Manager of Brokerage Services at Owners.com. "Many markets have become overheated, but there are still markets where smart buyers can find more affordable homes. Savvy buyers will realize greater savings if they leverage modern brokerages like Owners.com that provide local expert real estate agents who help them make data-driven purchase decisions."
For homebuyers seeking less competition and a deal below asking price, the top 10 best markets are:
- Chicago-Naperville-Elgin, IL-IN-WI
- Virginia Beach-Norfolk-Newport News, VA-NC
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Jacksonville, FL
- Hartford-West Hartford-East Hartford, CT
- New York-Newark-Jersey City, NY-NJ-PA
- Miami-Fort Lauderdale-West Palm, FL
- San Antonio-New Braunfels, TX
- Birmingham-Hoover, AL
- Houston-The Woodlands-Sugar Land, TX
More market update:
Homebuyers seeking a good deal will find Chicago the best market in the US while Kahului is the most overheated.