Clear Capital recently released its Home Data Index Market Report, which found the best deals in the housing market now reside in the middle-tier of available homes. The group found that following more than two years of recovery, low-tier homes are no longer the best value for homebuyers.
Mid-tier homes are homes selling between $95,000 and $310,000, nationally.
The company reported that low-tier homes experienced 32.3 percent growth from the trough in 2011. Mid-tier homes are still 30.6 percent off of peak values, while the low-tier price sectors remained just 21.5 percent below peak values. Top-tier homes, on average, are just 18.2 percent off of peak values.
“Very interesting dynamics are at play as we head into spring. Though our April data suggests the spring buying season is off to a slow start, we aren’t concerned about the sustainability of the recovery,” said Dr. Alex Villacorta, VP of research and analytics at Clear Capital.