
Housing market conditions are leaving prospective buyers with far less purchasing power than they had even a couple years ago, but certain cities are bucking the national trend with more favorable circumstances for house hunters.
Nationwide, demand for housing is outpacing low levels of inventory, driving prices sky-high and beyond peaks set during the last housing boom. Growth in mortgage rates, which are expected to rise throughout the year, has also added burdens for homebuyers in terms of how much they can afford to buy.
However, a strengthened economy has paved the way for job and income increases, putting more money in the pockets of consumers. And in cities with lower median house values and steadying price growth,
A First American analysis of home values that factors in local wages and mortgage interest rates in large cities found a 6.4% price increase nationally in March. But, in some markets like Washington, D.C., home prices have steadied or even declined, according to First American's Real Home Price Index.
Here's a look at the 12 best cities for housing market purchasing power. The data, from First American's RHPI, measures home price changes, taking local wages and mortgage rates into account "to better reflect consumers' purchasing power and capture the true cost of housing."
The March 2018 data is ranked by smallest year-over-year changes in RHPI for cities where the current value is less than 100 (an RHPI reading of 100 is equal to housing conditions in January 2000).

No. 12 Providence, Rhode Island
RHPI: 90.47
Year-over-year RHPI: 6.62%

No. 11 Chicago
RHPI: 68.95
Year-over-year RHPI: 6.36%

No. 10 Portland
RHPI: 99.45
Year-over-year RHPI: 5.25%

No. 9 Virginia Beach, Virginia
RHPI: 93.81
Year-over-year RHPI: 4.94%

No. 8 Raleigh, North Carolina
RHPI: 80.03
Year-over-year RHPI: 4.88%

No. 7 Philadelphia
RHPI: 84.64
Year-over-year RHPI: 4.73%

No. 6 Hartford, Connecticut
RHPI: 72.72
Year-over-year RHPI: 3.26%

No. 5 Memphis
RHPI: 55.98
Year-over-year RHPI: 2.67%

No. 4 Oklahoma City
RHPI: 72.81
Year-over-year RHPI: 2.63%

No. 3 Baltimore
RHPI: 82.65
Year-over-year RHPI: 2.55%

No. 2 Washington, D.C.
RHPI: 85.39
Year-over-year RHPI: 1.22%

No. 1 Pittsburgh
RHPI: 65.23
Year-over-year RHPI: -1.24%