Summer is one of the hottest times of the year to buy a home. The months of May, June, July and August are popular with potential buyers thanks to factors including kids being out of school for summer break and families being more likely to commit to purchasing a home and moving in before the start of the school year.
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While housing inventory is typically at its highest during the summer months, this doesn’t mean every city is ideal for buyers. GOBankingRates spoke to real estate agents to find out which cities buyers should reconsider purchasing a home in. Buyers beware: Real estate agents said to avoid these six cities when buying a home this summer.
Las Vegas, Nevada
Buyers looking for long-term investments should steer clear of buying a home in Las Vegas, said Carmelo Carrasco, realtor at Axel Property Management.
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Carrasco said Las Vegas is known for being a volatile market with quick jumps and drops in prices.
Cleveland
Buyers who want to find a home for sale under $100,000 can pull it off by searching in Ohio cities like Cleveland and Mansfield. However, Seth Williams, owner and real estate broker at Reference Real Estate, does not recommend buyers move to Cleveland unless they plan on a temporary settlement and to leave with a high sales gain.
“Ohio has one of the slowest growth rates in America when it comes to home values. In the last 30 years, the average price has grown only by 70%,” Williams said.
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Source: finance.yahoo.com
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