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Home prices continue to rise across the United States, leading to affordability issues among a wide swath of potential homeowners. But savvy buyers are finding deals by purchasing homes that require renovations.
According to data from leading real estate listings site Realtor.com, the national median listing price in August was $429,990. However, buyers are realizing significant savings when purchasing fixer-upper homes—especially in the South and Midwest, where homeowners saved between 56 and 78 percent by buying properties in need of renovations, Realtor.com reported on Sept. 23.
