The Best “Bang-for-the-Buck” Real Estate Markets

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Photo Credit: Alamy Stock Photo

Photo Credit: Alamy Stock Photo

The classic saying in real estate is “Location, Location, Location.” Everyone who buys a home knows that where homes are located—by market, by neighborhood, and even by block—can cause wide variation in what they will list and ultimately sell for.

Changes in the real estate market during the COVID-19 pandemic have shifted some of the calculus when it comes to choosing both the location and the particular home. On the one hand, low interest rates have increased the amount of money buyers are willing to spend, as evidenced in part by the ratio of contractor-built to owner-built housing starts. When interest rates are high, many potential buyers opt to build their own home as a way to save money, pushing the ratio down. Conversely, when interest rates are low, buyers are more willing to pay a premium on a home that…

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