Best Places For Real Estate Deals
Matt Woolsey, 10.08.07, 12:01 AM ET
Home sales have sunk to their lowest levels since 2001. Investors are jumping ship, foreclosures are mounting and lenders are exercising caution.
Still, there are areas of the county where it makes sense for some to buy. That's because, in a market slump, sellers eager to unload their homes often accept less money from buyers. New construction also slows. Both bode well for those hoping to score a deal--if the market in which they are buying is expected to experience increased sales.
To find such places, we paired with Moody's Economy.com to research current home sales patterns and sales projections in the country's 40 biggest real estate markets. Based on models that estimated 2008 housing inventory, sales rates and turnover, we arrived at a list of markets that are experiencing price stalls or declines, but where over the coming year are expected to provide deals for buyers.
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