Where to Snag the Best Housing Deals
With rising foreclosures and drop in housing prices across the
country, buyers can find plenty of deals in real estate. For example, in Phoenix
alone, housing prices are down nearly 45 percent from its 2006 peak.

Recent data from Trulia.com’s quarterly
Home Offer Report pinpoints where the best housing deals can often be found.
Trulia’s report takes into account the average number of days on the market
before the first price reduction, average discount during the price-cut period,
probability of a second price cut, and the total percentage of for-sale
properties that have had prices reduces at least once.

Here are the cities currently offering the biggest home price
discounts.

1.
Phoenix

Average number of days on market
before first reduction: 48

Average discount in
first reduction: 8 percent

Percentage of
for-sale homes with price cuts: 35 percent

2. Mesa, Ariz.
Average number
of days on market before first reduction: 55

Average discount in first reduction: 8 percent
Percentage of for-sale homes with price cuts: 38
percent

3. Minneapolis,
Minn.

Average number of days on market
before first reduction: 45

Average discount in
first reduction: 9 percent

Percentage of
for-sale homes with price cuts: 28 percent

4. Long Beach, Calif.
Average
number of days on market before first reduction: 58

Average discount in first reduction: 7 percent
Percentage of for-sale homes with price cuts: 33
percent

5. Baltimore,
Maryland

Average number of days on market
before first reduction: 62

Average discount in
first reduction: 10 percent

Percentage of
for-sale homes with price cuts: 30 percent

See more cities that made the list at
Forbes.com.

Source: “The Cities With the Biggest Home Price
Discounts,”
Forbes (May 8,
2011)

Read
more:

11 Cities Where Homes Sell the Fastest
10 Cities Where It’s Cheapest to Buy
10 Cities With the Highest-Priced Listings

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