A Surprise Tops the List of Great Markets for Buyers

June 5, 2019

The top housing market for home buyers in the country is … drum roll … Albany, N.Y., according to a newly released realtor.com® study.

The combination of low sales price growth and more homes for sale is making Albany a hot choice for home buyers, according to the study. The median list price was about $295,000 in April—about 5% below the national median of $310,000.

“It’s a very middle-class, homey city,” Anthony Gucciardo, a local broker with Gucciardo Real Estate, told realtor.com®. “We have a lot of state government and colleges, so there [are] employment opportunities.”

Following Albany, rounding out the 10 top nationwide buyers markets—those most favorable to home shoppers, according to realtor.com®—are: Chicago; San Antonio, Texas; Jacksonville, Fla.; Riverside, Calif.; Los Angeles; Providence, R.I.; Dallas; Nashville, Tenn.; and Tampa, Fla.

In these markets, price growth has slowed, averaging a modest 1.4% year over year compared to 8.4% the prior year. Also, buyers are getting more choices: For Sale signs in these markets are growing, averaging 14.6% year over year. Nationally, inventories have risen only 4%, for comparison.

“These 10 housing markets are already more buyer-friendly when looking at the availability of homes for sale in different markets,” says Danielle Hale, realtor.com®’s chief economist. “As inventory continues to grow in these markets, buyers will see more options, and should ultimately gain more bargaining power.”

The Top Real Estate Market for Home Buyers Is What?” realtor.com(R) (June 4, 2019)