Homeownership recently got a tad more affordable in these three US metros, according to Realtor.com.
, homeownership recently got a tad more affordable in Kansas City, San Diego and Miami, where residential real estate prices went down more than in any other city year-over-year.
Those three metros led a national trend, according to the home search website’s August housing report, released this past Thursday.Sean 'Diddy' Combs wants $61.5M for his Beverly Hills mansion — some 6 months after the feds raided itRoy Lichtenstein's longtime Hamptons home lists for the first time in decades — with his studio still on the grounds
In Miami, Realtor.com analysts found that, year-over-year, the median listing price dropped 11.7%, to $530,000, the biggest reduction in the country. In second place came San Diego with a 9.1% reduction, bringing median listing prices to $999,000. And in third, Kansas City, with an 8.5% reduction, for a new median of $398,050.
The nation- and city-wide price reductions coincide with significant inventory growth and a market slowdown — August was the slowest in five years, with homes spending an average of 53 days on the market.Miami took fourth place in terms of new housing development, with a 72.2% rise in its year-over-year active listing count, while Kansas City, despite its substantial median price drop, did not rank in the top 10 for its inventory growth.
Markets Reports Residential Real Estate Study Says
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