Laura Romero’s 4-year-old son attends pre-school and her husband works at a Mexico City soda maker, so location was a top priority as they shopped for a home in the Western Hemisphere’s most populous metropolitan area. That’s why they shunned new developments.

“You find better locations” in the existing home market, Romero, a 38-year-old homemaker, said by phone from the Mexican capital. “It was better priced than a new home, and we’ve had the opportunity to remodel and make it the way we wanted.”

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