| The housing market was hit the hardest in the | | | | homes in the metro area within the city have |
| current US economic recession. But for buyers | | | | affordable properties for families with median income |
| looking into investing in a property, there is no better | | | | of $62,500. Home prices are expected to increase |
| time to buy. Nationally speaking, the real estate | | | | 2.67 percent by the end of this year, thanks to only |
| market today is at its most affordable in 18 years. | | | | 1 out of every 120 housing units being foreclosed. |
| According to the Housing Opportunity Index, the | | | | Buyers who favor major metro cities, the City of |
| housing in the fourth quarter of 2009 was 62.4 | | | | Angel's housing market is projected to grow and |
| percent more affordable than the same time a year | | | | stabilize once again thanks to the city's strong |
| earlier. | | | | banking and financial industries. Home sale prices |
| The best part of the country to invest in real estate | | | | jumped 11 percent in the third quarter, another 2 |
| is the Midwest, Pittsburgh, PA being on the top of | | | | percent between third and fourth quarter in 2009. |
| the list. For a housing market in any city of any state | | | | According to the National Association of Realtors, Los |
| to be considered attractive, needs to have three | | | | Angeles is number four in sale price improvement out |
| factors: | | | | of 40 cities. |
| Appreciative Prices: Real estate market needs to | | | | An estimated 27,858 new/resale houses/condos |
| show buyers are making a wise investment with an | | | | were sold statewide in January 2010. Of the California |
| attractive appreciative housing price. | | | | existing homes sold in January, 44 percent were |
| Affordability: The cost of properties should be | | | | properties that have been foreclosed. The medium |
| affordable to give middle-class families an opportunity | | | | price for a home paid was $247,000, up 10.3 percent |
| to enter into the market with their credit history. | | | | from $224,000 from the same month a year ago. |
| Low Number of Foreclosures: The less foreclosed | | | | The typical mortgage payment homebuyers were |
| houses out in the market, the stable the prices gets, | | | | committing themselves to in January was $1,064, up |
| which indicates there is no excess of inventory. | | | | from $969 from again the same month a year ago. |
| The city of Pittsburgh has all three. 85 percent of the | | | | |