5 Housing Markets With Great Bargains (If You're Really Planning to Stay)
BOSTON ( TheStreet) -- Some U.S. housing markets still offer big bargains even though asking prices have risen 8.3% nationwide over the past year, market tracker Trulia.com says.
"Prices fell so much after the housing bubble burst that we're still in rebound mode," said Jed Kolko, Trulia's chief economist.
Trulia recently analyzed two key housing-market measures -- price-to-income ratio and price-to-rent ratio -- to see how current home values in the 100 largest U.S. cities compare with historic norms.
While the study concluded that nine markets have become overpriced, Trulia found that America's 91 other major cities remain undervalued by as much as 24%.Trulia's research shows that the Sun Belt and the Midwest's Rust Belt offer many of America's biggest discounts. Kolko says lots of Sun Belt cities top the list because they "had a big price bubble
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts