Though recent signs have pointed to a
lessening of the housing inventory crunch, many markets are still experiencing shortages of homes for sale, with inventory overall declining 15.22% in March year over year. Still, there are some bright spots across the nation where the number of listings are growing, enabling first-time home buyers in particular to enter the market more easily than in cities where inventory remains low.
By looking at
realtor.com site listing data, we were able to identify the top five markets in inventory growth – and the five easiest markets to crack – over the past year:
5) Ocala, FLThis Florida city experienced the fifth-highest growth in listings since 2012, with an increase of 3.09% year over year. Median listing prices have remained relatively stable at $129,900, with a slight 1.01% increase in the past 12 months.
4) Huntsville, ALListings in the fourth-largest city in Alabama increased 3.94% year or year, while median listing prices actually declined 2.66% to $179,964, making Huntsville a good entry market for first time buyers.
3) El Paso, TXInventory in this West Texas city grew 4.79% over the last 12 months while prices declined by 1.34% to their current median level of $149,950, landing El Paso the number three slot in our list.
2) Springfield, ILWith listings climbing 5.67% since last year and median prices falling by 7.69% to $119,900, the capital of Illinois is a prime entry market for first time buyers looking for affordable starter homes.
1) Shreveport-Bossier City, LAComing in at number one on our list of top easiest markets to crack is tourism, energy, and film production hub Shreveport, Louisiana. Listings shot up over 17% year over year, by far the highest increase on our list. Prices have eased up 4% to a median of $182,000, making this city on the Red River our top easiest market to crack.
Way to go Shreveport / Bossier!
If you have been considering purchasing a home, now may be the right time. The market is going strong and interest rates are still low. Visit www.ShreveportRealEstate.biz to learn more or give me a call if you have questions about finding a new home.
