Money magazine ranks Cincinnati one of six best places to buy a home

In the midst of a nationwide housing crisis, Money magazine came up with a list of the six “best places to buy a home these days,” and put Cincinnati on it. Money said its list is of “the six cities where home prices are likely to rise the most – or fall the least – in the next 12 months.” Of Cincinnati, the magazine said, “The city’s manufacturing-heavy economy should benefit from the falling dollar. Commercial building is up, and high-end developments are moving in.”

Home prices have indeed been relatively stable in Greater Cincinnati compared to other metropolitan markets. A 20-city housing study recently reported by the S&P Case Schiller Group found that the average home-selling price in Cincinnati fell 2.5 percent from October 2006 to October 2007, compared to an average drop of 6.1 percent in the 20 cities surveyed.

Money’s ranking “is great news considering the national trends,” said Cincinnati Mayor Mark Mallory. “The ranking confirms the strength of our housing market.”

Writer: David Holthaus
Source: Money magazine