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With comparatively high inventory and affordable home prices, these metros are prime homebuying locations for first-time house hunters in 2023. Markets like Wichita, KS offer an inventory to buyer ratio of 22 to 1 with price reductions in 22% of all listings, Zillow reports. Thu, 12/15/2022 - 10:15.
Even as bidding wars slow to a halt and sellers drop their asking prices, the Fed’s inflation control methods are ongoing, according to CNBC. In addition, home prices are currently 43% higher than they were at the start of the pandemic, while active inventory is 43% lower than it was in 2019.
For that tight neighborhood of houses, Ivory Homes showed town leaders its Cottages portfolio and asked for help in enabling city employees and frontline workers living in South Jordan—who otherwise would lose any bidding war for a house priced in the $300,000s—to achieve homeownership. That’s because Clark Ivory saw the downturn coming.
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