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IRVINE, CA-The number of available single-family homes plunged in recent years as the construction industry underwent a wrenching decline. The National Association of Realtors estimated that in April the nation still only had a 5.2 month supply of homes. But for those willing to take a chance by buying a fixer-upper bargain home, the best cities for this are mostly located in the Midwest, according to a recent report from RealtyTrac, a California-based online provider of real estate and foreclosure data.

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