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In a housing market dominated by high costs, there’s a lot of attention on the nation’s hottest, or most in-demand, markets. However, recent data from housing market platform Realtor.com is showing the coldest markets, or markets where buyers may be able to snag a good deal.
While the hottest markets right now can be found along the East and West Coasts, the coldest markets can be found in the South, particularly along the Gulf in states such as Texas, Florida, and Louisiana. Among them are Lake Charles, La.; Punta Gorda, Fla.; McAllen, Texas; Naples, Fla.; and Cape Coral, Fla. However, buying in these markets could present some unique challenges, and there are reasons these areas are staying cold, explains Realtor.com economist Ralph Mclaughlin.
"What's the catch? Well, if you have to sell soon, you'll be faced with the other side of that coin," he points out. In other words, even if you land a bargain in a cold market, you might be stuck with it for a while—so it's probably not smart to buy if you aren't willing to stay put for a while.
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