Knock.com now predicts the 10 U.S. housing markets where buyers can get the best deal, based on the current share of properties that sold below their original list price.
The top three markets expected to offer the best deals on home prices are Miami, Houston, Texas, and Chicago. The Windy City had an 83.57 percent "rate of deals" with 5.11 in average savings for homes sold lower than the original listing price. In Houston, the deal rate was 84.29 percent with a 4.84 percent in average savings, and Miami had an 89.37 deal rate with 6.80 percent average savings. Knock forecasts that 77 percent of current for-sale listings will sell below their original list prices in the first quarter of 2019, and five of the top 10 highlighted markets are slated to have the highest bargain rate, 89 percent.
Knock, on a mission to make trading-in a home as easy as trading-in a car, today released the results of the inaugural National Knock Deals Forecast, predicting which U.S. markets will have the highest percentage of homes that sell below their original list prices heading into 2019, and how these compare to homes sold in 2018. “Knock has developed six predictive algorithms to determine how much our Home Trade-in customers’ homes will sell for and when, and we’re excited to bring these insights to consumers nationwide,” said Sean Black, Co-founder and CEO of Knock.
CORRECTION: This article formerly referred to Knock as a service of Zillow; it is an independent company.