Here are 20 housing markets where you have the opportunity to score a bargain in the current housing market, according to Realtor.com.
Many of these cities have future upside potential. Each housing market is ranked by three indicators: “supply score,” “demand score” and “hotness score.” The “hotness” score is an equally weighted composite metric of a region’s “supply score” and “demand score.”
Realtor.com regularly rates the 300 largest metro areas in the U.S. and these are currently the “coolest” housing markets where you may be able to snag a deal:
1. Lake Charles, Louisiana
- Supply Score: 0.3
- Demand Score: 0.7
- Hotness Score: 0.5
2. Houma-Thibodaux, Louisiana
- Supply Score: 2.0
- Demand Score: 0.3
- Hotness Score: 1.2
3. Panama City, Florida
- Supply Score: 1.7
- Demand Score: 2.3
- Hotness Score: 2.0
4. Punta Gorda, Florida
- Supply Score: 1.3
- Demand Score: 2.7
- Hotness Score: 2.0
5. Naples-Marco Island, Florida
- Supply Score: 0.3
- Demand Score: 5.0
- Hotness Score: 2.7
6. Cape Coral-Fort Myers, Florida
- Supply Score: 2.3
- Demand Score: 3.3
- Hotness Score: 2.8
7. McAllen-Edinburg-Mission, Texas
- Supply Score: 5.0
- Demand Score: 1.7
- Hotness Score: 3.3
8. Miami-Fort Lauderdale-Pompano Beach, Florida
- Supply Score: 5.0
- Demand Score: 5.7
- Hotness Score: 5.4
9. Brownsville-Harlingen, Texas
- Supply Score: 2.7
- Demand Score: 9.0
- Hotness Score: 5.9
10. Las Cruces, New Mexico
- Supply Score: 6.7
- Demand Score: 5.4
- Hotness Score: 6.0
11. Phoenix-Mesa-Chandler, Arizona
- Supply Score: 6.7
- Demand Score: 6.0
- Hotness Score: 6.4
12. Albany, Georgia
- Supply Score: 0.0
- Demand Score: 13.7
- Hotness Score: 6.9
13. Lafayette, Louisiana
- Supply Score: 8.4
- Demand Score: 6.4
- Hotness Score: 7.4
14. Crestview-Fort Walton Beach-Destin, Florida
- Supply Score: 4.3
- Demand Score: 11.4
- Hotness Score: 7.9
15. El Paso, Texas
- Supply Score: 15.4
- Demand Score: 1.3
- Hotness Score: 8.4
16. Honolulu, Hawaii
- Supply Score: 13.4
- Demand Score: 4.0
- Hotness Score: 8.7
17. Lakeland-Winter Haven, Florida
- Supply Score: 9.7
- Demand Score: 8.0
- Hotness Score: 8.9
18. Deltona-Daytona Beach-Ormond Beach, Florida
- Supply Score: 6.4
- Demand Score: 11.7
- Hotness Score: 9.0
19. Daphne-Fairhope-Foley, Alabama
- Supply Score: 4.7
- Demand Score: 17.4
- Hotness Score: 11.0
20. Corpus Christi, Texas
- Supply Score: 3.7
- Demand Score: 19.7
- Hotness Score: 11.7
https://www.realtor.com/news/trends/are-cold-markets-better-for-homebuyers-than-hot-markets/
Buyers canceled 56,000 pending home sales last month or just under 15% of all deals, a record for June, but only two basis points higher than last year.
Let’s talk about those bargains in Florida. There might be a reason or two for price “breaks”.
https://finance.yahoo.com/news/floridas-condominium-market-becoming-disaster-171447434.html
Never mind that man behind the curtain, or the massive underfunding of reserves, or skyrocketing insurance rates (assuming you can get it). You might even get a bonus of oceanfront property eventually! Of course, DeSantis’ “Don’t Say Climate Change” law should turn all that around.
I will be commenting several times from a position of knowledge. I’ve never seen such a poorly constructed analysis.
The Gulf Arc; Galveston to Coral Gables is also subject to devastating weather events.
Because of this any value will be decanted by excessive insurance obligations.