Wednesday, September 29, 2010

Dallas housing is still one of the chepest in the country...

Even with big price declines in some major cities, Dallas has some of the cheapest housing in the country, according to a new report by Coldwell Banker Real Estate.

The residential sales firm looked at home prices in almost 300 markets for its annual Home Listings Report.

The cheapest place to buy a house is Detroit, where the average four-bedroom, two-bath property will run you only $68,007.

The same size house will cost an average of $1.83 million in Newport Beach, Calif., the most expensive market on Coldwell Banker's list.

In Dallas, a similar home is $180,228 – the 56th-lowest price in the ranking.

Coldwell Banker uses its nationwide home listings to come up with the annual report. Relocating workers sometimes use the study to compare the cost of homeownership in various markets.

"Our study shows that homeownership in the United States is generally affordable, with nearly 30 percent of the studied markets averaging $200,000 or less for a four-bedroom, two-bathroom home," Coldwell Banker CEO Jim Gillespie said in the report.

Coldwell Banker found 25 U.S. housing markets where the average was more than $750,000. In 10 cities, it topped $1 million.

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