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hopping for a home can be tough, but when the market is more buyer-friendly, it's easier to find your dream house. According to Realtor.com, several cities in May stood out as being particularly welcoming to buyers, with plenty of homes at reduced prices and ample inventory.
Cities in seven Southern or Western states made up the top 10 most "buyer-friendly" metro areas, per the report. Here are five of them:
Phoenix, Arizona, is a standout, with over 1.67 million people calling it home. In May, nearly 31% of properties on the market had their prices reduced, more than any other city in the top 10. Phoenix also saw a 23% year-over-year jump in active listings.
Tampa, Florida, took 60 days to sell homes at a median price of $417,500. About 30% of its listings had experienced a price cut by May.
Denver, Colorado, saw the biggest year-over-year increase in active listings, with Realtor.com reporting a 64% jump. Meanwhile, nearly 29% of up-for-sale homes had undergone price cuts.
Austin, Texas, is another buyer-friendly city, where homebuyers sought a median price of $525,000 in May. About 29% of homes on the market had a discount.
Jacksonville, Florida, posted a 31% increase in active listings from last year and saw roughly 29% of its homes feature a price reduction.
Other top-10 cities included Charleston, South Carolina; Salt Lake City, Utah; Dallas, Texas; Palm Bay, Florida; and Portland, Oregon. Nationally, the U.S. had over 1 million homes on the market in May, with prices reduced on nearly 19% of them.
