Altisource Portfolio Solutions
Dec 12, 2017 Reveals Best and Worst Markets for Home Buyers to Get a Deal

Chicago, IL tops list of affordable major real estate markets while buyers will spend big on the West Coast

ATLANTA, GA -- (Marketwired) -- 12/12/17 --, an innovative technology enabled real estate brokerage, today released its inaugural 2017 Market Recap data study revealing the top 10 buyer and overheated metropolitan statistical areas (MSAs). For buyers seeking less competition and more affordable homes sold below the listing price, Chicago-Naperville-Elgin, IL-IN-WI came out on top, followed by Virginia Beach-Norfolk-Newport News, VA-NC and Philadelphia-Camden-Wilmington, PA-NJ-DE-MD. To identify the most overheated markets, looked at MSAs where buyers could expect to spend more than one-third of their income on their mortgage. The data showed that Kahului-Wailuku-Lahaina, HI; Grants Pass, OR and San Jose-Sunnyvale-Santa Clara, CA were the most overheated markets, where homes typically sold faster and for twice as much money than the national average. focused on U.S. metropolitan statistical areas (MSAs) with more than one million people. The study analyzed a variety of factors within the qualifying MSAs, including home sale price, difference between the listing and sale price, average number of days on market and average listed inventory count.

"With reduced inventory and appreciating home prices an issue in much of the country, real estate market conditions are challenging," said Phil Karp, Senior Manager of Brokerage Services at "Many markets have become overheated, but there are still markets where smart buyers can find more affordable homes. Savvy buyers will realize greater savings if they leverage modern brokerages like that provide local expert real estate agents who help them make data-driven purchase decisions."

Top 10 Home Buyer Markets
The study uncovered that within the top 10 buyer markets, home buyers can generally expect to find more affordable options with less competition:

    MSA   Average
Sales Price
for Single-
Sale and 
  Average Number
of Days Listing
Is on 
Loan to
Change in
Rent (from Previous 
1   Chicago-Naperville-Elgin, IL-IN-WI   $302,898   -$16,015
  108   -10.07%   9,683
2   Virginia Beach-Norfolk-Newport News, VA-NC   $255,737   -$11,959

  104   -15.01%   2,703
3   Philadelphia-Camden-Wilmington, PA-NJ-DE-MD   $272,112
  -$13,973   115   -9.17%   5,952   +$11
4   Jacksonville, FL   $255,144   -$15,229   102   -12.84%   2,085   +$13
5   Hartford-West Hartford-East Hartford, CT   $277,086   -$12,105   116   -13.35%   559   +$7
6   New York-Newark-Jersey City, NY-NJ-PA   $459,566   -$26,568   142   -5.84%   10,728
7   Miami-Fort Lauderdale-West Palm, FL   $377,700   -$26,998   115   -6.49%   9,961   +$41
8   San Antonio-New Braunfels, TX   $242,243   -$11,794   93   -9.93%   1,742   +$28
9   Birmingham-Hoover, AL   $202,029   -$13,058
  -10.42%   935   +$20
10   Houston-The Woodlands-Sugar Land, TX   $333,424   -$15,982   98   -7.83%   1,523   +$31

Top 10 Overheated Markets also identified what it considers the most overheated markets, where residents are spending more than 33 percent of their household income toward their mortgage payment, and found that:

    MSA   Average Sales
Price for
between Sale and Listing
Number of
Days Listing Is on Market
  Percentage of
Household Income
Used toward Mortgage Payment
1   Kahului-Wailuku-Lahaina, HI   $814,251
  -$35,015   140   41.3%
2   Grants Pass, OR   $289,328   -$14,524
  122   33.8%
3   San Jose-Sunnyvale-Santa Clara, CA   $1,219,717
  +$26,539   47   44.1%
4   San Francisco-Oakland-Hayward, CA   $943,649   +$27,793   62   38.4%
5   Santa Rosa, CA   $658,253   -$11,997   79   36.3%
6   San Luis Obispo-Paso Robles-Arroyo Grande, CA   $615,394   -$28,646   102   36.4%
7   Urban Honolulu, HI   $864,762   -$17,481   93   42.7%
8   Santa Maria-Santa Barbara, CA   $766,101   -$28,390   100   34.8%
9   Los Angeles-Long Beach-Anaheim, CA   $801,163   -$19,457   87   44.4%
10   Napa, CA   $804,032   -$29,960   96   38.8%

Methodology identified all MSAs with over one million people and retrieved data from October 31, 2016 through October 31, 2017. used five metrics to identify and rank the top 10 buyer markets and three metrics for the top 10 overheated markets. These metrics were weighted and summed into a score. The national and market data were sourced from public property data, and aggregated data were sourced from First American and Census Data. The weights for each metric were as follows:

The score for the top 10 home buyer markets was comprised of these metrics:

The score for the top 10 overheated markets was comprised of these metrics:

About® is a tech-enabled real estate brokerage that handles all key aspects of the home buying and selling experience on one platform. It provides a superior experience and savings through right-sized commission structures, smart digital tools and personalized service from local agents. It's this formula that can save consumers thousands at closing. For more information or to contact a local real estate agent, visit or follow them on and

About Altisource®
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing market. Additional information is available at

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Source: Altisource Portfolio Solutions, S.A.

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