There has never been a better time to sell a house.
While many worried the coronavirus pandemic would put an end to the real estate market as we know it, what we're now seeing in markets around the country are homes are being sold at a record place, often for well over asking price. But what does this mean for buyers? If American real estate as a whole is a seller’s market right now, is there any hope for those looking to snap up a property or two?
It turns out, the answer is yes. There are still many locations around the country where housing prices are actually dropping, making them more buyer-friendly for the time being.
Diversyfund used housing data from Zillow to compile a list of 20 U.S. metros that had the biggest price cuts during March 2021, the most recent month of data available. In this story, a house listing is considered to have a price cut if it has a “list price at the end of the month that’s less than the list price at the beginning of the month,” according to Zillow. The metros are ranked according to the median price cut expressed as a percentage of the list price, and ties were broken by the price cut expressed in dollars. The share of listings that had a price cut in March 2021, as well as the March 2021 median list price and February 2021 median sale price, were included for each metro as well if the data was available.
Keep reading to discover where you ought to check listings if you’re looking to invest in the real estate market sometime soon.