According to the Realtor.com® December Housing Market Report, prices in more than half of the 50 largest metros in the U.S. have plummeted year over year, with five hugely popular cities leading the charge in price reductions.
Nationwide, the median list price fell by 1.8% year over year, settling at $402,502 last month, even as the price per square foot inched up by 1.3% during the same time. It points to a glut of smaller and more affordable homes on the market.
While this news might not bode well for sellers, for those buyers ready to take the jump onto the property ladder-or perhaps expand an existing portfolio with an additional investment-it is the perfect time to pick up a bargain property.
From Tampa, FL, to Kansas City, MO, we have rounded up five ultra-affordable homes priced below $300,000-and they're all located in sought-after cities where prices are falling the fastest.
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