Home prices in those areas fell about 40 percent on average from their highs, peak to trough, Rood said. And inventories are the tightest in Detroit compared with the other cities listed in Rood’s top five. Detroit only has two months of inventory available for sale, while there’s about seven months of inventory in Ft. Lauderdale, for instance.
Meanwhile Mobile, Ala., one on the worst housing markets to invest in, according to Rood, has about 19 months of inventory.
Along with that region, Chicago, Charlotte, N.C., Philadelphia and St. Louis are among the worst housing markets to invest in right now, according to Rood.
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