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National Mortgage News - - Contents -

Hous­ing mar­ket con­di­tions are leav­ing prospec­tive buy­ers with far less pur­chas­ing power than they had even a cou­ple of years ago, but cer­tain cities are buck­ing the na­tional trend with more fa­vor­able cir­cum­stances for house hunters.

Here’s a look at the 12 best cities for hous­ing mar­ket pur­chas­ing power. The data, from the March First Amer­i­can Real Home Price In­dex, mea­sures home price changes, tak­ing lo­cal wages and mort­gage rates into ac­count “to bet­ter re­flect con­sumers’ pur­chas­ing power and cap­ture the true cost of hous­ing.”

No. 7 Philadel­phia, Pa. Me­dian sale price: $217,594 RHPI: 84.64 Year-over-year RHPI: 4.73%

No. 11 Chicago, Ill. Me­dian sale price: $231,424 RHPI: 68.95 Year-over-year RHPI: 6.36%

No. 3 Bal­ti­more, Md. Me­dian sale price: $265,000 RHPI: 82.65 Year-over-year RHPI: 2.55%

No. 8 Raleigh, N.C. Me­dian sale price: $259,750 RHPI: 80.03 Year-over-year RHPI: 4.88%

No. 4 Ok­la­homa City, Okla. Me­dian sale price: $159,500 RHPI: 72.81 Year-over-year RHPI: 2.63%

No. 1 Pitts­burgh, Pa. Me­dian sale price: $148,000 RHPI: 65.23 Year-over-year RHPI: -1.24%

No. 12 Prov­i­dence, R.I. Me­dian sale price: $252,750 RHPI: 90.47 Year-over-year RHPI: 6.62%

No. 2 Wash­ing­ton, D.C. Me­dian sale price: $383,000 RHPI: 85.39 Year-over-year RHPI: 1.22%

No. 10 Port­land, Ore. Me­dian sale price: $365,000 RHPI: 99.45 Year-over-year RHPI: 5.25%

No. 6 Hart­ford, Conn. Me­dian sale price: $216,100 RHPI: 72.72 Year-over-year RHPI: 3.26%

No. 5 Mem­phis, Tenn. Me­dian sale price: $155,000 RHPI: 55.98 Year-over-year RHPI: 2.67%

No. 9 Vir­ginia Beach, Va. Me­dian sale price: $227,500 RHPI: 93.81 Year-over-year RHPI: 4.94%

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