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U S Cities With Top Home Price Gains And Declines
n a study of the 100 prices are bound to grow by 4.3 %
biggest housing markets by from this April to the next. The
population in the United city is expected to have a home
States, Fiserv Lending Solutions price change of 17.6 % over the
has come up with top five cities next five years. Tulsa's year of
that are predicted to have the worst decline was during '86 to
maximum home price gains and '87 and the slump during this
bottom five that are expected to decline was 7.5 %. The median
show price declines from April home price is $135,000 and the
2007 to April 2008. median mortgage loan makes up to
14 % of the income.
The top 5 cities that are slated
to show home price gains are as 3.El Paso, Texas: Another city of
follows: Texas where home prices are
expected to rise, El Paso has a
1.McAllen, Texas: It's good news median home price of $130,000.
for McAllen home buyers with The median mortgage loan forms 14
Fiserv forecasting a price gain % of the median income. The
of 9.8 percent over the next year projected price change for the
for this Texas city. The next 5 years is at 17.6 %. El
projected price change for the Paso’s worst one-year decline was
five year period is 26.5 %. The during '87 to '88 when it
city's median home price is experienced a home price decline
$130,000 and median mortgage loan by 17.5 %.
as a percentage of income is 25
%. McAllen's worst one year 4.Scranton, Pennsylvania:
decline was at 12.3 % during '88 Scranton’s home prices are
to '89. forecasted to increase by 3.9 %
over the next one year. The city
2.Tulsa, Oklahoma: The home has a median home price of
$118,000. With the median home price is at $345,000 and the
mortgage loan at 13 % of the median mortgage loan consists of
income, Scranton makes a good 31 % of the income. The five year
buying market for homes this price change is at 128.4 %. The
year. Home prices are slated to city had experienced its worst
increase steadily with the 5 year year of decline through ’88 to‘89
projection at 41.2 %. The city at 3.1 %.
experienced its worst price
decline of 7.2 % between '94 and 2.Phoenix, Arizona: Home prices
'95. are expected to slack by 5.5 % in
the next 12 months. The median
5.Rochester, New York: Rochester home price is at $271,000 and the
is projected to have a 3.7 % median mortgage loan forms 26 %
increase in home prices over the of the income. The five year
next 12 months. The median home price change for Phoenix is at
price is at $122,000 and the 103.8 %. The year of worst
median mortgage loan is 11 % of decline has been from '81 to ‘82
the income. The five year price with price decline of 6.0 %.
change is at 22.4 %. The city's
worst one year decline was at 4.1 3.Nassau/Suffolk, New York: Home
% during '94 to '95. prices may fall by 6 % over the
next year in this metro area. The
The following are the bottom five median home price is at $483,000
cities of the list of 100 biggest and the median mortgage loan
housing markets. forms 31 % of the income. The
five year price change is at 76.3
1.Fort Lauderdale, Florida: % and the city saw the worst
Prices are falling in this city decline in home price in '88-'89
and are expected to slump down by when prices came down by 6.6 %.
5.5 % by April 2008. The median
4.Miami, Florida: Price drops of 5.Las Vegas, Nevada: The fall in
as much as 8.8 % are expected in home prices is forecasted at the
the Miami housing market. The highest in Las Vegas at 8.9 %
median home price is at $335,000 during a one year period from
and the median mortgage loan April 2007 to April 2008. The
forms 41 % of the income. The median home price is $325,000 and
forecast predicts a five year the median mortgage loan consists
price change of 149.3 %. The of 33 % of the income. The five
city's year of worst decline was year price change is at 119.8 %.
during '88 to '89 with a The worst one year decline that
downswing of home prices at 4.3 the city experienced was at 17 %
%. during '88 to '89.
About the Author:
San Diego Condos
La Jolla Condos
Mission Bay Real Estate
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