Why Home Price Inequality is Good for Buyers
Online loan marketplace LendingTree recently studied the diversity of available home prices in the country’s largest metros.
According to MarketWatch, LendingTree found that, unlike income, inequality in an area’s home prices can actually be good for buyers. When prices are spread across a broader spectrum, homebuyers have more options and flexibility.
Cities with “unequal” home prices included the Rust Belt cities of Detroit, Indianapolis, and St. Louis. More “equal” markets, where a lack of price diversity may shut out some buyer groups, included Salt Lake City, Portland, Ore., and Denver.