Best Housing Markets for Big Bargains

November 21, 2011

Financial analysis firm 24/7 Wall St. has identified the housing markets expected to offer some of the biggest discounts for home buyers. Many of these markets have been plagued with large gluts of foreclosures that have dragged down prices. In fact, six of the 10 markets on the list have had median home prices fall to less than half what they were five years ago, according to 24/7 Wall St. 

The following housing markets offer home buyers some of the biggest discounts:

North Port-Bradenton-Sarasota, Fla.

Median home price: $170,000

Home value decline from peak: -51.4%

Predicted change in home value through 2Q 2012: -6.5%

Riverside-San Bernardino-Ontario, Calif.

Median home price: $180,000

Home value decline from peak: -55.4% (14th biggest decline)

Predicted change in home value through 2Q 2012: -14.8% 

Charleston-North Charleston, S.C.

Median home price: $200,000

Home value decline from peak: -23.3%

Predicted change in home value through 2Q 2012: -1.6%

Fort Lauderdale-Pompano Beach, Fla.

Median home price: $199,000

Home value decline from peak: -48.4%

Predicted change in home value through 2Q 2012: -9.2%

Cape Coral-Fort Myers, Fla.

Median home price: $106,000

Home value decline from peak: -59.3%

Predicted change in home value through 2Q 2012: -12.2% 

See what other cities made its list.

Source: “10 Top Markets for Bargain Hunters,” AOL Real Estate (Nov. 18, 2011)