6. Salt Lake City UT
Median List Price: $195,000 (up 5.5% y-o-y) Inventory Level: 6,743
homes (down 31% y-o-y) Median Days On Market: 90 days (down 13% y-o-y)
Price Drop From Peak:19.4% Unemployment Rate: 5.9%
Buying a home is not a decision to be taken lightly. Personal finance gurus warn against purchasing unless you plan to keep it for a minimum of five years and, since the housing bubble burst, many say it’s best to buy only if it fits your lifestyle – not your investing portfolio.
For first-time home buyers shopping for a permanent, full-time residence, it’s advice to heed. But say you do simply want a place to park some of your hard-earned money, perhaps a fixer-upper you could occupy for a few years or maybe a house you believe you could rent out right away and easily oversee?
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