In the United States, unit sales fell drastically in the Northeast and the Midwest, at 23% and 25% respectively. New York City may still be expensive but in the Buffalo and Rochester metro areas, homes are selling for around $145,000.
In New Jersey, think off the beaten path and take a look at the Vineland metro area where homes are now going for a mere $165,000 compared to other metro counterparts like Trenton and Atlantic City where home prices are around $270,000.
For Pennsylvania, think Pittsburgh and the Allentown metro areas were homes are selling for between $140,000 and $170,000, respectively. On top of that, the City of Pittsburgh has once again been voted one of America’s most livable cities in the US by Forbes Magazine.
In the Midwest, states like Indiana, Illinois and Michigan are all offering up great bargains for investors. In Indiana - even in metro areas like Indianapolis and Fort Wayne - homes are selling for between $110,000 and $140,000 -the average median home price in Indiana is $125,000, great buys for investment properties.
In Illinois, think Rockford and Peoria metro areas, where average home prices are hovering around $118,000 and $129,000, respectively. For Michigan, places like Detroit, Grand Rapids and Lansing - hit hard by the down turn in the auto industry - some homes are being offered at under $100,000, even as low as $70,000.
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