According to the report, the top 15 cities for buying these fixer-upper bargains are:

Detroit, MI
Chicago, IL
Cleveland, OH
St. Louis, MO
Cincinnati, OH
Philadelphia, PA
Milwaukee, WI
Phoenix, AZ
Toledo, OH
Birmingham, AL
Dayton, OH
Columbus, OH
Jacksonville, FL
Indianapolis, IN
Lansing, MI

As GlobeSt.com reported in May, "A slow economy and tight financing mean that most consumers are willing to put aside their preferences to get a much lower price on an existing home—particularly distressed homes in foreclosure that we show on average sell for 30% below the average price of a non-distressed home," said Blomquist. "Demand is still very strong for these distressed homes, where multiple offers and bidding wars are not uncommon. These bidding wars are starting to push the price of distressed homes and all existing homes higher, and over the next year the gap between the price of an existing home and new home should continue to shrink—which will likely push more homeowners to consider buying a new home rather than an existing home."

Instant Insights /

Midwest Has Best Cities for Fixer-Uppers

Related Stories

Recommended For You