Forget hustling for a home in the Bay Area. People looking for a bargain should consider El Paso, Texas, a city with new construction and a low cost of living. Best yet, since the homes are affordable (median home price: $160,000) and on the market for a while (91 days), buyers don’t have to compete with a myriad of others for a home.
Realtor.com found the top 10 overlooked real estate markets in the U.S. The site found the “coldest” markets with the least buyer competition and weeded out economically depressed cities.
Birmingham, Ala., Albany, N.Y., and Allentown, Pa., all made the list.
After decades of struggle, Allentown is quietly finding its way along the comeback trail. Although the region’s economy is now a far cry from its heyday, manufacturing jobs are gaining ground, slowly but steadily. The region’s GDP now ranks 73rd out of the 382 largest metropolitan areas in the U.S., up two spots from 2014. Its gains translate into a 5% year-over-year gain in home prices.
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