After years of soaring home prices and high mortgage rates, the U.S. housing market is showing some signs of stability. However, prices around the nation are still elevated. Mortgage rates remain high at about 6.32% for a 30-year fixed loan, and the median U.S. home price was $425,000 as of September. However, there are still a few affordable housing markets, according to Realtor.com. According to the real estate marketing platform’s September Housing Market Report, at least five metro areas in the Northeast and Midwest have median home prices below $300,000.
Where else can you find a home that won’t bust your budget? Cities such as Pittsburgh and Detroit both have median list prices below $300,000, which has made them popular among prospective homebuyers. (Pittsburgh’s home listings are viewed 1.5 times more than the U.S. average, and Detroit’s are viewed 1.2 times more.) If you’ve been dreaming of homeownership without breaking the bank, these are the metros where you can still get a deal.
PB Topical Ref
