he mid-year update of the double-digit appreciation
top 25 U.S. housing markets Seattle, Washington is still
by Housing Predictor shows holding its own, despite slower
a growing trend of real estate sales activity and a market that
markets that are appreciating is making a transition from a
rapidly, while many of the strong sellers market to favor
nation’s markets are depreciating the buyers. However, Seattle’s
just as fast. Housing Predictor ranking moved up the list.
forecasts more than 250 local
housing markets in all 50 U.S. New Orleans, Louisiana has been
states. hard hit not only by the fallout
from unprecedented damage and
Albuquerque, New Mexico retains destruction from the nation’s
it’s top spot as the fastest worst natural disaster in
appreciating housing market in Hurricane Katrina, but now has
the nation with a forecast 9.1% also suffered from the result of
in appreciation on average the sub-prime loan crisis,
through the end of 2007. But on dropping from the top 25 markets.
the other end of the spectrum
Miami, Florida also retains its But Portland, Oregon, Boise,
ranking as the worst housing Idaho and Spokane, Washington in
market in the nation for the year the Pacific north-west have been
with a forecast depreciation of added to the top 25 markets for
12.7%. Miami has been slammed their rapid growth and healthy
with a condominium market that local economies.
has been over built amid a swarm
of investors who have pulled out The south-east portion of the
of pre-construction condo deals. nation, however, still continues
to control the majority of spots
After more than three years of on the top 25 markets. Despite an
increase in foreclosures in some has forecast that more than two
Texas markets as a result of the and a half million foreclosures
sub-prime fallout, Texas still will occur nationwide through
has the strongest statewide real 2009 as a result of fall out from
estate market in the nation, the sub-prime crisis as it
where investors are flocking and spreads into the conventional
appreciation is at its highest in mortgage markets.
years in many markets. Six Texas
markets remain among the top 25. However, the fall out from the
sub-prime meltdown is already
Housing markets in Arkansas, demonstrating a balance between
North Carolina, Mississippi and supply and demand in many markets
Tennessee are performing strongly throughout the nation, and
and are holding their high appears to be limiting itself to
ranking positions in the top 25, mainly poorer geographic and
despite higher levels of larger urban areas. Eighteen
foreclosures in some markets than states markets are appreciating.
in many years. Housing Predictor
About the Author:
Mike Colpitts is the Editor of Housing Predictor. To check on the Top 25 market forecast, the Worst 25 markets and your markets forecast visit http://www.HousingPredictor.com
Read more articles by:
Mike Colpitts
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