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Great Cities Where Home Prices are Dropping

You think you have read articles like this one before, but you haven’t. You believe Money Examiners is going to trumpet low home prices, only to guide you to southwest Podunk. “They never list low prices anywhere I would want to live,” you say. Prepare to have your preconceptions destroyed. These are places Money Examiners would like to have our home office. Places where your family will clamor to come for Thanksgiving. Vacation paradi…ok, we can’t go that far (except maybe for one place), but these are nice places to live where you can find a home at a descending price.

Arlington, Virginia: This thriving northern Virginia city has seen a price drop of over 5% in just one year! Understand, that 5% in one year is significant. People seldom move in and out of a home in 12 months, and this could be only the beginning. The Waycroft/Woodlawn neighborhood is a good one.

 

 

Santa Rosa, California: Midway between San Francisco and the heart of wine country find Santa Rosa. The medium-sized city of just over 175,000 residents has seen prices drop at an almost identical clip to Arlington’s pace. Sadly, last year’s fires have something to do with property values. The Villa Los Alamos area, just west of 101, is an area to look into.

 

 

Lafayette, Louisiana: Millennials, in particular, are finding Lafayette both welcoming and affordable. Prices have fallen over 6% in the last year. The 70503 ZIP and Savanne Beau, near the University of Louisiana/Lafayette, is a hot spot for homebuyers.

 

 

Honolulu, Hawaii: We hinted that there would be at least one vacation paradise on our list. Home prices in Honolulu fell about 2% in the last year. Inventory is actually growing in Honolulu, a fact that separates it from most cities in the U.S. Be careful, though, as home prices on Oahu are still out of reach for most of us. Where should you buy a home in Honolulu? You’re joking, right? Find a home that you can afford anywhere on the island. That’s the best place.

 

 

 

Birmingham, Alabama: Prices in Birmingham may not have dropped as much, by percentage, as other places on our list. But, home prices are more affordable here than anywhere else that you would actually want to live. Do you want proof? The average home price has decreased by about 4% in the last year. How much is the average purchase price? Try $69,000. Also, try the Vestavia Hills area for good homes at a good value.

 

 

San Antonio, Texas: Known for the affordable real estate within its borders, San Antonio is not a surprise to have made our list. Homes prices have dropped by 2.13% in the Alamo city during the past year. The Fair Oaks Ranch area, northwest of downtown on Interstate 10, offers some good values and great neighborhoods.

 

 

 

Naperville, Illinois: This town of just under 150,000 has a thriving shopping district and historical relevance. It is a great city to call home, and one of Money Examiners’ favorites in Chicagoland. Home prices have dropped a little bit in Naperville, but that is in stark contrast to most of the other suburbs of Chicago. The Atwater subdivision is one to think about for buying a new home.

 

 

Your friends at Money Examiners know that shopping for a home can be a huge hassle. We hope our list gives you some clarity. We’ll join you at the housewarming!