According to the criteria of
According to an analysis by the company Realtor.com, although the average sales price for homes in the United States, in general, increased slightly, to stand at US$442,500 in May, compared to the same month in 2023, In some cases, access to real estate has become more affordable.
The explanation for this is that Potential buyers are stopping short of finalizing a property purchase This is leading to less competition, causing home sellers to lower prices in an attempt to sell more quickly, especially in several major metropolitan areas.
The good news is that Booming cities have attracted thousands of buyers looking for affordable housing so some sellers decided to reduce prices. In fact, in May, home prices in Miami and Austin fell 11.2 and 3.1 percent respectively compared to the same period in 2023.
The Realtor.com company came to that conclusion after analyzing data from 50 of the largest metropolitan areas in the United States to find out which ones were the most experienced the largest price declines in housing and these were the results:
Average price of a home: US$439,000.
Year-over-year percentage change: -11.2 percent.
Average price of a home: US$639,000
Year-over-year percentage change: -6.3 percent.
Average home price: US$777,000
Year-over-year percentage change: -5.5 percent.
Average price of a home: US$440,000.
Year-over-year percentage change: -4.9 percent.
Average price of a home: US$339,000.
Year-over-year percentage change: -4.3 percent.
In Miami, house prices have decreased.
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Large cities in the United States have more affordable housing
A total of eleven were included in the Realtor.com analysis. major US cities that have seen a decline in average home prices. We already mentioned the five with the most significant reductions, but this is the complete list:
Average price of a home: US$1,469,000.
Year-over-year percentage change: -4 percent.
Average price of a home: US$425,000.
Year-over-year percentage change: -3.2 percent.
Average home price: US$565,000.
Year-over-year percentage change: -3.1 percent.
Average price of a home: US$260,000.
Year-over-year percentage change: -3 percent.
Average price of a home: US$348,000.
Year-over-year percentage change: -2.6 percent.
Average home price: US$462,000.
Year-over-year percentage change: -2.6 percent.
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