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Trends change over time, and some local real estate markets are far more expensive than others.
These 10 states are among themost expensive to buy propertycompared to residents median income.
Connecticut
9.
Oregon
8.
Massachusetts
7.
Florida
6.
New Jersey
5.
Louisiana
4.
Texas
3.
Hawaii
2.
New York
1.
But its not impossible.
Youll just have to be a bit more strategic about it.
The first thing I suggest buyers do is to ensure that their finances are in order.
Richardson also suggested keeping abreast of the current market trends in your area.
You could end up paying much more than the house is worth or your budget allows.
Youll usually have to pay a commission fee, but only after the deal goes through.
There is nothing wrong with being patient, said Richardson.
Even in a cutthroat market, waiting for an ideal property with a reasonable price can be worth it.
Interest rates may continue to fall, however, which is good news for anyone seeking financing for property.
Housing inventory may also continue to be low, while demand could spike.
