housing markets for buyers

These are the Best 12 Housing Markets for Buyers in 2019

July 29, 2019

If you’re considering buying a home, you have your eye out for signs that your market is seeing changes in growth and supply. The overall national housing market is seeing a decline in housing price growth. Home prices have almost always climbed, so this change means that you can afford more home for less! In fact, some markets saw a very significant drop in home price due to an abundant supply. We’ll discuss 12 markets where you can expect to see the highest purchasing power. 

The Real House Price Index

All of the data comes from the First American Real House Price Index. They measure markets in RHPI or Real House Price Index. An RHPI of 100 means that the market is in the same condition as it was in January of 2000, adjusted for inflation. 

The RHPI measure also takes into account local wages and mortgage rates to give a fuller picture of what it’s like to buy a house in each area. The markets we’ll discuss all have an RHPI under 100 and a low change in real price value from last year, signaling that buyers will face slightly better home prices. 

12 of the Best Housing Markets for Buyers Purchasing Power

The overall average yearly RHPI is -0.70%. Keep that in mind as you look through 12 of the strongest housing markets.

City

Yearly RHPI (%)

Seattle, Washington

-6.29

Portland, Oregon

-4.52

San Diego, California

-2.25

St. Louis, Missouri

-1.20

Oklahoma City, Oklahoma

-1.19

Washington, D.C.

-0.83

Chicago, Illinois

-0.80

Memphis, Tennessee

-0.69

Dallas, Texas

-0.57

Jacksonville, Florida

-0.10

Hartford, Connecticut

-0.01

Pittsburgh, Pennsylvania

0.05

 

As you can see, the city of Pittsburgh is unique on this list. It is the one place where home prices have increased. Otherwise, these cities are all more affordable for you than they were last year!

Help for Real Estate Agents Who Need to Be More Efficient

If you’re in a weak market, or a strong one, you need to make the most of your time. Choose the experts that can help you make the best of your market by saving you time and offering your clients the best service. We provide many helpful tools and resources that can help real estate agents create a stronger business.

At Lakeside Title, we can be part of the team that reduces your liability in real estate transactions, makes your buyer or seller feel more secure, and makes the overall process simpler. We can help even with difficult transactions so that you can get back to making more deals and finding more clients.

Discover our residential services, including escrow and lender title policies, or reach out to us today to discuss your needs.