The Best and Worst Places to Purchase Real-Estate

August 31, 2017

Here at DMD, we love to help our audience build their wealth, and more importantly, avoid pitfalls. Whether you're thinking of purchasing property for business or personal use, "location, location, location" rings true. Continue reading for WalletHub's 2017 analysis of the best cities for real-estate value.

Long-term home value is determined by more than just size and style.

Purchasing real-estate is an exciting milestone, be it for business purposes or to establish your estate. But it’s easy to get caught up in the aesthetics of a house and ignore all the other factors that could mean a poor investment.

WalletHub, a personal finance website, knows how important it is to look beyond what you love about a property to ensure growth and profit in the long-run. For instance, while you may be focused on a house’s stylish features or size, patterns in market trends and the neighborhood around that house most likely bear far more significance on future value.

Using indicators like median home-price appreciation and the economic health of the 300 cities analyzed, WalletHub created a definitive ranking of the best real estate markets across the U.S. Keep reading to find out what they uncovered in the process.

Top 10 Real-Estate Markets

1. Frisco, TX

2. McKinney, TX

3. Allen, TX

4. Cary, NC

5. Richardson, TX

6. Seattle, WA

7. Bellevue, WA

8. Carrollton, TX

9. Nashville, TN

10. Denver, CO

Bottom 10 Real-Estate Markets

1. Newark, NJ

2. Paterson, NJ

3. Elizabeth, NJ

4. Miami Beach, FL

5. Bridgeport, CT

6. Hartford, CT

7. Detroit, MI

8. Waterbury, CT

9. Montgomery, AL

10. New Haven, CT

Highlights

·Residents in Albany, NY, Erie, PA, New York City, Miami Beach and Newark can expect the highest average number of days until a house is sold.

·Four California cities — Richmond, Vallejo, Sunnyvale and Hayward —boast the highest median home-price appreciation, along with Pittsburgh, PA.

·Ann Arbor, MI, Sunnyvale, VA, New York City, Bellevue, WA, and Boulder, CO offer the lowest foreclosure rates.

·For the lowest home prices as percent of income, go to Fayetteville, NC, Detroit, MI, Flint, MI, Akron, OH, or Springfield, IL.

·Banks own the most unsold homes in Detroit, MI, Rockford, IL, Miramar, FL, Miami Gardens, FL, and Sunrise, FL.

For the full rank of best and worst real-estate markets, visit WalletHub.com.