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WFH Buyers May Want to Look Here for Deals

Consumers who have worked from home and have found they can move anywhere may find a handful of markets seeing falling prices that could offer a deal in homeownership.

Home prices have posted double-digit annual gains virtually everywhere, but realtor.com® researchers uncovered six markets in the U.S. that are seeing prices fall. Most of these cities rely on tourism and college sports for their local economies, which have been impacted during the COVID-19 pandemic.

Realtor.com® researchers looked at median list prices in the 250 largest metro areas in the country, comparing average list prices in November and December 2020 and January to the same three months a year ago. The following markets have seen prices dip in that timeframe:

1. Destin, Fla.

  • Median list price: $469,000
  • Median list price change: –15.6%

2. Honolulu

  • Median list price: $975,000
  • Median list price change: –12.2%

3. Bloomington, Ill.

  • Median list price: $117,000
  • Median list price change: –8.3%

4. Erie, Pa.

  • Median list price: $139,500
  • Median list price change: –3%

5. Shreveport, La.

  • Median list price: $512,000
  • Median list price change: –2.6%

6. Terre Haute, Ind.

  • Median list price: $82,000
  • Median list price change: –1.5%

Source:  “Home Prices Are Falling in These Cities—While They’re Rising Just About Everywhere Else,” realtor.com® (March 1, 2021)

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