To make money in real estate, one must buy at a deep discount. Take advantage of buying opportunities in the US due to a weak economy. Some cities have price drops compare to the previous year in 2007 up to 40%.
Here is a list of big US cities that has the highest drops:
1 Sacramento
Annual asking price change: -29.06%
April, 2008, asking price: $226,978
April, 2007, asking price: $319,950
Annual inventory change: 7.53%
Listings with price reductions: 56%
2 Phoenix
Annual asking price change: -20.54%
April, 2008, asking price: $257,157
April, 2007, asking price: $323,620
Annual inventory change: 15.54%
Listings with price reductions: 50%
4 Los Angeles
Annual asking price change: -20.35%
April, 2008, asking price: $490,428
April, 2007, asking price: $615,764
Annual inventory change: 19.68%
Listings with price reductions: 41%
5 Las Vegas
Annual asking price change: -18.95%
April, 2008, asking price: $284,188
April, 2007, asking price: $350,627
Annual inventory change: 16.59%
Listings with price reductions: 50%
6 Atlanta
Annual asking price change: -18.16%
April, 2008, asking price: $185,455
April, 2007, asking price: $226,602
Annual inventory change: 9.04%
Listings with price reductions: 51%
7 San Diego
Annual asking price change: -16.90%
April, 2008, asking price: $495,596
April, 2007, asking price: $596,414
Annual inventory change: 18.21%
Listings with price reductions: 45%
8 Boston
Annual asking price change: -13.42
April, 2008, asking price: $359,285
April, 2007, asking price: $414,962
Annual inventory change: 1.28%
Listings with price reductions: 42%
9 Miami
Annual asking price change: -12.16%
April, 2008, asking price: $395,771
April, 2007, asking price: $450,563
Annual inventory change: 23.71%
Listings with price reductions: 42%
10 Chicago
Annual asking price change: -10.98%
April, 2008, asking price: $262,506
April, 2007, asking price: $294,900
Annual inventory change: 7.70%
Listings with price reductions: 40%
11 Seattle
Annual asking price change: -3.69%
April, 2008, asking price: $472,710
April, 2007, asking price: $490,815
Annual inventory change: 36.05%
Listings with price reductions: 42%
12 Washington
Annual asking price change: -3.41%
April, 2008, asking price: $425,821
April, 2007, asking price: $440,869
Annual inventory change: -10.14%
Listings with price reductions: 38%
13 San Francisco
Annual asking price change: -3.30%
April, 2008, asking price: $820,621
April, 2007, asking price: $848,607
Annual inventory change: 15.75%
Listings with price reductions: 35%
14 Houston
Annual asking price change: -2.35%
April, 2008, asking price: $145,415
April, 2007, asking price: $148,915
Annual inventory change: -0.41%
Listings with price reductions: 34%
15 Denver
Annual asking price change: -0.55%
April, 2008, asking price: $224,017
April, 2007, asking price: $225,258
Annual inventory change: 0.60%
Listings with price reductions: 27%
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