Home values are rising by an average of more than $16,000 in the first quarter of 2018 while affordability drops as mortgage rates get higher. The personal-finance website WalletHub released its latest report on 2018’s Best Real-Estate Markets to help homebuyers determine the most attractive real-estate markets in the United States. The report compared 300 cities across 22 key metrics, with data set ranges from median home-price appreciation to home sales turnover rate to job growth. Here are some highlights from the data. Check out the full report for more information.
Best vs. Worst
- Berkeley, California, has the lowest share of homes with negative equity, 1.17 percent, which is 32.8 times lower than in Detroit, the city with the highest at 38.36 percent.
- Sunnyvale, California and Seattle have the lowest average number of days until a house is sold, 35, which is 4.9 times lower than in Miami Beach, Florida, the city with the highest at 170.
- Allen, Texas, has the lowest vacancy rate, 1.40 percent, which is 26.2 times lower than in Miami Beach, Florida, the city with the highest at 36.66 percent.
- Akron, Ohio, has the lowest home price as a share of income, 172 percent, which is 8.9 times lower than in Berkeley, California, the city with the highest at 1,525 percent.
To view the full report to see your city’s rank.
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