10 Homebuyer Havens

Despite declining affordability and low supply in major U.S. cities, buyer demand remains strong. A new study ranks 10 neighborhoods that offer affordable homes and urban amenities.

New York neighborhood Astoria, located in the borough of Queens, took the number one spot. Why is it a buyer's haven? Realtor.com finds that while the city's median list price is $800,000, Astoria's median is $444,300. Local real estate agent Paul Halvatzis describes Astoria's allure, “Proximity to Manhattan is one of the main reasons people like Astoria. You can be in midtown in four or five subway stops, and the area is very safe.” Second-ranked neighborhood in traditionally unaffordable Los Angeles, Sylmar, Calif., has a median list price of $508,948, while the city's median price is $650,000.

Just how high can home prices go in America’s biggest cities? That’s the question many prospective buyers are asking as they wait (and wait) on the sidelines of the nation's top housing markets—watching for that magical time when crazy-high price tags get slashed and they can sprint toward the homeownership end zone. That day hasn't come yet. Sure, the pace of home price growth nationally has slowed a bit in recent months. However, we’re still far from an overall buyer's market, with prices continuing to move upward in most places.

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